Western New England Bancorp (WNEB) 10-Q 7 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 01, 2019
Cover [Abstract]
Entity Registrant Name	Western New England Bancorp, Inc.
Entity Central Index Key	0001157647
Document Type	10-Q
Entity File Number	001-16767
Entity Incorporation State	MA
Document Period End Date	Sep. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity's Reporting Status Current	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		26,561,742
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019

CONSOLIDATED BALANCE SHEETS - U

CONSOLIDATED BALANCE SHEETS - UNAUDITED - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Cash and due from banks	$ 26,229	$ 20,616
Federal funds sold	8,002	1,246
Interest-bearing deposits and other short-term investments	11,168	4,927
Cash and cash equivalents	45,399	26,789
Securities available-for-sale, at fair value	231,258	253,748
Marketable equity securities, at fair value	6,726	6,408
Federal Home Loan Bank stock and other restricted stock, at cost	13,064	14,695
Loans, net of allowance for loan losses of $13,272 and $12,053 at September 30, 2019 and December 31, 2018, respectively	1,738,310	1,684,804
Premises and equipment, net	23,989	24,624
Accrued interest receivable	5,460	5,652
Bank-owned life insurance	70,599	69,252
Deferred tax asset, net	7,518	9,872
Goodwill	12,487	12,487
Core deposit intangible	3,406	3,688
Other assets	15,468	6,803
Total Assets	2,173,684	2,118,822
Deposits:
Non-interest-bearing	382,475	355,389
Interest-bearing	1,287,040	1,240,604
Total deposits	1,669,515	1,595,993
Short-term borrowings	35,000	59,250
Long-term debt	205,681	208,018
Other liabilities	31,507	18,532
Total liabilities	1,941,703	1,881,793
SHAREHOLDERS' EQUITY:
Preferred stock - $0.01 par value, 5,000,000 shares authorized, none outstanding at September 30, 2019 and December 31, 2018
Common stock - $0.01 par value, 75,000,000 shares authorized, 26,561,742 shares issued and outstanding at September 30, 2019; 28,393,348 shares issued and outstanding at December 31, 2018	266	284
Additional paid-in capital	164,251	182,096
Unearned compensation - ESOP	(4,723)	(5,171)
Unearned compensation - Equity Incentive Plan	(1,317)	(872)
Retained earnings	80,028	74,108
Accumulated other comprehensive loss	(6,524)	(13,416)
TOTAL SHAREHOLDERS' EQUITY	231,981	237,029
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 2,173,684	$ 2,118,822

CONSOLIDATED BALANCE SHEETS -_2

CONSOLIDATED BALANCE SHEETS - UNAUDITED (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for loan losses	$ 13,272	$ 12,053
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized	5,000,000	5,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized	75,000,000	75,000,000
Common stock, issued	26,561,742	28,393,348
Common stock, outstanding	26,561,742	28,393,348

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest and dividend income:
Residential and commercial real estate loans	$ 15,831	$ 14,507	$ 45,948	$ 42,850
Commercial and industrial loans	3,195	2,982	9,269	9,573
Consumer loans	85	88	254	261
Debt securities, taxable	1,406	1,709	4,606	5,227
Debt securities, tax-exempt	17	19	55	64
Equity securities	42	38	124	112
Other investments	192	228	638	631
Short-term investments	36	34	185	83
Total interest and dividend income	20,804	19,605	61,079	58,801
Interest expense:
Deposits	4,454	3,094	12,790	8,167
Long-term debt	1,102	1,193	3,292	3,178
Short-term borrowings	720	713	1,942	2,264
Total interest expense	6,276	5,000	18,024	13,609
Net interest and dividend income	14,528	14,605	43,055	45,192
Provision for loan losses	1,275	350	1,675	1,600
Net interest and dividend income after provision for loan losses	13,253	14,255	41,380	43,592
Non-interest income (loss):
Service charges and fees	2,018	1,891	5,501	5,167
Income from bank-owned life insurance ("BOLI")	444	448	1,347	1,374
Bank-owned life insurance death benefit				715
Gain (loss) on available-for-sale securities, net	49		(12)	(250)
Unrealized gain (loss) on marketable equity securities, net	45	(43)	194	(190)
Gain on sale of other real estate owned				48
Other income	55		270	131
Total non-interest income	2,611	2,296	7,300	6,995
Non-interest expense:
Salaries and employees benefits	6,893	6,451	20,549	19,548
Occupancy	975	952	3,144	2,979
Furniture and equipment	424	400	1,256	1,149
Data processing	710	642	2,077	1,957
Professional fees	546	767	1,858	2,107
FDIC insurance assessment	5	158	417	463
Advertising	364	351	1,098	1,053
Other expenses	1,823	1,851	5,504	5,288
Total non-interest expense	11,740	11,572	35,903	34,544
Income before income taxes	4,124	4,979	12,777	16,043
Income tax provision	899	1,070	2,864	3,476
Net income	$ 3,225	$ 3,909	$ 9,913	$ 12,567
Earnings per common share:
Basic earnings per share (in dollars per share)	$ 0.12	$ 0.14	$ 0.38	$ 0.43
Weighted average shares outstanding (in shares)	25,854,040	28,789,132	26,308,580	29,100,735
Diluted earnings per share (in dollars per share)	$ 0.12	$ 0.14	$ 0.38	$ 0.43
Weighted average diluted shares outstanding (in shares)	25,969,365	28,937,038	26,423,229	29,242,862

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - UNAUDITED - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income		$ 3,225	$ 3,909	$ 9,913	$ 12,567
Unrealized gains (losses) on available-for-sale securities:
Unrealized holding gains (losses)		1,439	(1,635)	9,133	(8,059)
Reclassification adjustment for net (gains) losses realized in income	[1]	(49)		12	250
Unrealized gains (losses)		1,390	(1,635)	9,145	(7,809)
Tax effect		(350)	404	(2,330)	1,733
Net-of-tax amount		1,040	(1,231)	6,815	(6,076)
Cash flow hedges:
Change in fair value of derivatives used for cash flow hedges		(142)	168	(1,053)	1,086
Reclassification adjustment for loss realized in interest expense	[2]	105	82	257	355
Reclassification adjustment for termination fee realized in interest expense	[3]	269	269	799	799
Unrealized gains on cash flow hedges		232	519	3	2,240
Tax effect		(65)	(145)	(1)	(629)
Net-of-tax amount		167	374	2	1,611
Defined benefit pension plan:
Amortization of defined benefit plans actuarial loss	[4]	32	56	96	170
Tax effect		(10)	(16)	(28)	(48)
Net-of-tax amount		22	40	68	122
Other comprehensive income (loss)		1,229	(817)	6,885	(4,343)
Comprehensive income		$ 4,454	$ 3,092	$ 16,798	$ 8,224
[1]	Realized gains and losses on available-for-sale securities are recognized as a component of non-interest income in the consolidated statement of operations. The tax effects applicable to net realized gains were $14,000 for the three months ended September 30, 2019. The tax effects applicable to net realized losses were $(3,000) and $(70,000) for the nine months ended September 30, 2019 and 2018.
[2]	Loss realized in interest expense on derivative instruments is recognized as a component of interest expense on short-term debt in the consolidated statement of operations. Income tax effects associated with the reclassification adjustments were $30,000 and $23,000 for the three months ended September 30, 2019 and 2018. Income tax effects associated with the reclassification adjustments were $72,000 and $100,000 for the nine months ended September 30, 2019 and 2018.
[3]	Amortization of termination fees realized in interest expense on derivative instruments is recognized as a component of interest expense on short-term debt in the consolidated statement of operations. Income tax effects associated with the reclassification adjustments were $76,000 for the three months ended September 30, 2019 and 2018. Income tax effects associated with the reclassification adjustments were $225,000 for the nine months ended September 30, 2019 and 2018.
[4]	Amounts represent the reclassification of defined benefit plan amortization and have been recognized as a component of non-interest expense in the consolidated statement of operations. Income tax effects associated with the reclassification adjustments were $10,000 and $16,000 for the three months ended September 30, 2019 and 2018. Income tax effects associated with the reclassification adjustments were $28,000 and $48,000 for the nine months ended September 30, 2019 and 2018.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - UNAUDITED (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Income tax expense (benefits) on realized gains and losses on available-for-sale securities	$ 14,000		$ (3,000)	$ (70,000)
Income tax benefit on derivative instruments	30,000	$ 23,000	72,000	100,000
Income tax benefit on termination fee on derivative instruments	76,000	76,000	225,000	225,000
Income tax benefit, defined benefit plans	$ 10,000	$ 16,000	$ 28,000	$ 48,000

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - UNAUDITED - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Unearned Compensation - ESOP [Member]	Unearned Compensation - Equity Incentive Plan [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Total
BALANCE AT BEGINNING at Dec. 31, 2017	$ 305	$ 203,527	$ (5,786)	$ (791)	$ 62,578	$ (12,552)	$ 247,281
BALANCE AT BEGINNING (shares) at Dec. 31, 2017	30,487,309
Comprehensive income					3,519	(2,767)	752
Cumulative-effect adjustment due to change in accounting principle					(237)	237
Common stock held by ESOP committed to be released		88	154				242
Share-based compensation - equity incentive plan				232			232
Common stock repurchased	$ (5)	(4,798)					(4,803)
Common stock repurchased (in shares)	(451,641)
Issuance of common stock in connection with stock option exercises	$ 1	103					104
Issuance of common stock in connection with stock option exercises (shares)	16,975
Issuance of common stock in connection with equity incentive plan	$ 1	925		(926)
Issuance of common stock in connection with equity incentive plan (shares)	85,440
Cash dividends declared and paid on common stock					(1,185)		(1,185)
BALANCE AT ENDING at Mar. 31, 2018	$ 302	199,845	(5,632)	(1,485)	64,675	(15,082)	242,623
BALANCE AT ENDING (shares) at Mar. 31, 2018	30,138,083
BALANCE AT BEGINNING at Dec. 31, 2017	$ 305	203,527	(5,786)	(791)	62,578	(12,552)	247,281
BALANCE AT BEGINNING (shares) at Dec. 31, 2017	30,487,309
Comprehensive income							8,224
BALANCE AT ENDING at Sep. 30, 2018	$ 295	192,581	5,325	1,010	71,402	(16,658)	241,285
BALANCE AT ENDING (shares) at Sep. 30, 2018	29,453,808
BALANCE AT BEGINNING at Mar. 31, 2018	$ 302	199,845	(5,632)	(1,485)	64,675	(15,082)	242,623
BALANCE AT BEGINNING (shares) at Mar. 31, 2018	30,138,083
Comprehensive income					5,138	(759)	4,379
Common stock held by ESOP committed to be released		89	154				243
Share-based compensation - equity incentive plan				253			253
Common stock repurchased	$ (4)	(4,257)					(4,261)
Common stock repurchased (in shares)	(391,376)
Cash dividends declared and paid on common stock					(1,164)		(1,164)
BALANCE AT ENDING at Jun. 30, 2018	$ 298	195,677	(5,478)	(1,232)	68,649	(15,841)	242,073
BALANCE AT ENDING (shares) at Jun. 30, 2018	29,746,707
Comprehensive income					3,909	(817)	3,092
Common stock held by ESOP committed to be released		94	153				247
Share-based compensation - equity incentive plan				222			222
Common stock repurchased	$ (3)	(3,200)					(3,203)
Common stock repurchased (in shares)	(294,899)
Issuance of common stock in connection with stock option exercises		10					10
Issuance of common stock in connection with stock option exercises (shares)	2,000
Cash dividends declared and paid on common stock					(1,156)		(1,156)
BALANCE AT ENDING at Sep. 30, 2018	$ 295	192,581	5,325	1,010	71,402	(16,658)	241,285
BALANCE AT ENDING (shares) at Sep. 30, 2018	29,453,808
BALANCE AT BEGINNING at Dec. 31, 2018	$ 284	182,096	(5,171)	(872)	74,108	(13,416)	237,029
BALANCE AT BEGINNING (shares) at Dec. 31, 2018	28,393,348
Comprehensive income					3,430	3,212	6,642
Cumulative-effect adjustment due to change in accounting principle					(7)	7
Common stock held by ESOP committed to be released		60	149				209
Share-based compensation - equity incentive plan		(45)		240			195
Common stock repurchased	$ (15)	(15,432)					(15,447)
Common stock repurchased (in shares)	(1,555,352)
Issuance of common stock in connection with stock option exercises		64					64
Issuance of common stock in connection with stock option exercises (shares)	12,550
Issuance of common stock in connection with equity incentive plan	$ 1	1,069		(1,070)
Issuance of common stock in connection with equity incentive plan (shares)	102,883
Cash dividends declared and paid on common stock					(1,375)		(1,375)
BALANCE AT ENDING at Mar. 31, 2019	$ 270	167,812	(5,022)	(1,702)	76,156	(10,197)	227,317
BALANCE AT ENDING (shares) at Mar. 31, 2019	26,953,429
BALANCE AT BEGINNING at Dec. 31, 2018	$ 284	182,096	(5,171)	(872)	74,108	(13,416)	237,029
BALANCE AT BEGINNING (shares) at Dec. 31, 2018	28,393,348
Comprehensive income							16,798
BALANCE AT ENDING at Sep. 30, 2019	$ 266	164,251	(4,723)	(1,317)	80,028	(6,524)	231,981
BALANCE AT ENDING (shares) at Sep. 30, 2019	26,561,742
BALANCE AT BEGINNING at Mar. 31, 2019	$ 270	167,812	(5,022)	(1,702)	76,156	(10,197)	227,317
BALANCE AT BEGINNING (shares) at Mar. 31, 2019	26,953,429
Comprehensive income					3,257	2,444	5,701
Common stock held by ESOP committed to be released		61	149				210
Share-based compensation - equity incentive plan				198			198
Common stock repurchased	$ (3)	(2,394)					(2,397)
Common stock repurchased (in shares)	(249,961)
Cash dividends declared and paid on common stock					(1,313)		(1,313)
BALANCE AT ENDING at Jun. 30, 2019	$ 267	165,479	(4,873)	(1,504)	78,100	(7,753)	229,716
BALANCE AT ENDING (shares) at Jun. 30, 2019	26,703,468
Comprehensive income					3,225	1,229	4,454
Common stock held by ESOP committed to be released		55	150				205
Share-based compensation - equity incentive plan				187			187
Common stock repurchased	$ (1)	(1,283)					(1,284)
Common stock repurchased (in shares)	(141,726)
Cash dividends declared and paid on common stock					(1,297)		(1,297)
BALANCE AT ENDING at Sep. 30, 2019	$ 266	$ 164,251	$ (4,723)	$ (1,317)	$ 80,028	$ (6,524)	$ 231,981
BALANCE AT ENDING (shares) at Sep. 30, 2019	26,561,742

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - UNAUDITED (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Common stock held by ESOP committed to be released (shares)	88,117	88,117	88,117	90,978	90,978	90,978
Cash dividends declared and paid on common stock (per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.04	$ 0.04	$ 0.04

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
OPERATING ACTIVITIES:
Net income	$ 9,913	$ 12,567
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	1,675	1,600
Depreciation and amortization of premises and equipment	1,579	1,530
Accretion of purchase accounting adjustments, net	(67)	(1,052)
Amortization of core deposit intangible	282	282
Net amortization of premiums and discounts on securities and mortgage loans	1,563	1,839
Share-based compensation expense	580	707
ESOP expense	624	732
Unrealized (gains) losses on marketable equity securities, net	(194)	190
Net loss on sales of securities	12	250
Gain on sale of other real estate owned		(48)
Income from bank-owned life insurance	(1,347)	(1,374)
Bank-owned life insurance death benefits		(715)
Net change in:
Accrued interest receivable	192	115
Other assets	(1,825)	552
Other liabilities	6,443	3,205
Net cash provided by operating activities	19,430	20,380
INVESTING ACTIVITIES:
Purchases	(54,138)	(12,146)
Proceeds from redemptions and sales	57,418	12,501
Proceeds from calls, maturities, and principal collections	26,761	18,393
Loan originations and principal payments, net	(55,312)	(61,445)
Redemption of Federal Home Loan Bank of Boston stock	1,631	73
Proceeds from sale of other real estate owned		203
Purchases of premises and equipment	(1,001)	(2,565)
Proceeds from sale of premises and equipment	27	45
Proceeds from payout on bank-owned life insurance		2,050
Net cash used in investing activities	(24,614)	(42,891)
FINANCING ACTIVITIES:
Net increase in deposits	73,585	103,164
Net change in short-term borrowings	(24,250)	(89,650)
Repayment of long-term debt	(58,036)	(53,322)
Proceeds from issuance of long-term debt	55,765	113,000
Cash dividends paid	(3,985)	(3,506)
Common stock repurchased	(19,349)	(12,422)
Issuance of common stock in connection with stock option exercises	64	114
Net cash provided by financing activities	23,794	57,378
NET CHANGE IN CASH AND CASH EQUIVALENTS:	18,610	34,867
Beginning of period	26,789	27,132
End of period	45,399	61,999
Supplemental cash flow information:
Net change in cash due to broker for common stock repurchased	(221)	(155)
Interest paid	18,047	13,433
Taxes paid	$ 3,017	$ 2,507

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Basis of Presentation The Bank’s deposits are insured up to the maximum Federal Deposit Insurance Corporation (“FDIC”) coverage limits. The Bank operates 22 banking offices in western Massachusetts and northern Connecticut, and its primary sources of revenue are interest income from loans as well as interest income from investment securities. Wholly-owned Subsidiaries Principles of Consolidation Estimates Basis of Presentation. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2018, included in our Annual Report on Form 10-K for the year ended December 31, 2018 (the “2018 Annual Report”). Reclassifications.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2019
Earnings per common share:
EARNINGS PER SHARE	2. EARNINGS PER SHARE Basic earnings per share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. If rights to dividends on unvested awards are non-forfeitable, these unvested awards are considered outstanding in the computation of basic earnings per share. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by us relate to stock options and employee incentive plans and are determined using the treasury stock method. Unallocated Employee Stock Ownership Plan Trust (“ESOP”) shares are not deemed outstanding for earnings per share calculations. There were no anti-dilutive shares outstanding during the three and nine months ended September 30, 2019 and 2018. Earnings per common share for the three and nine months ended September 30, 2019 and 2018 have been computed based on the following: Three Months Ended Nine Months Ended 2019 2018 2019 2018 (In thousands, except per share data) Net income applicable to common stock $ 3,225 $ 3,909 $ 9,913 $ 12,567 Average number of common shares issued 26,621 29,627 27,092 29,958 Less: Average unallocated ESOP Shares (656 ) (745 ) (678 ) (768 ) Less: Average unvested equity incentive plan shares (111 ) (93 ) (106 ) (90 ) Average number of common shares outstanding used to calculate basic earnings per common share 25,854 28,789 26,308 29,100 Effect of dilutive equity incentive plan 47 49 42 42 Effect of dilutive stock options 68 99 73 100 Average number of common shares outstanding used to calculate diluted earnings per common share 25,969 28,937 26,423 29,242 Basic earnings per share $ 0.12 $ 0.14 $ 0.38 $ 0.43 Diluted earnings per share $ 0.12 $ 0.14 $ 0.38 $ 0.43

COMPREHENSIVE INCOME (LOSS)

COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
COMPREHENSIVE INCOME (LOSS)	3. COMPREHENSIVE INCOME (LOSS) Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss). The components of accumulated other comprehensive loss included in shareholders’ equity are as follows: September 30, 2019 December 31, (In thousands) Net unrealized losses on securities available-for-sale $ (739 ) $ (9,891 ) Tax effect 161 2,491 Net-of-tax amount (578 ) (7,400 ) Fair value of derivatives used for cash flow hedges (2,055 ) (1,259 ) Termination fee on cancelled cash flow hedges (1,796 ) (2,595 ) Total derivatives (3,851 ) (3,854 ) Tax effect 1,083 1,084 Net-of-tax amount (2,768 ) (2,770 ) Unrecognized actuarial loss on the defined benefit plan (4,420 ) (4,516 ) Tax effect 1,242 1,270 Net-of-tax amount (3,178 ) (3,246 ) Accumulated other comprehensive loss $ (6,524 ) $ (13,416 ) The following table presents changes in accumulated other comprehensive loss for the periods ended September 30, 2019 and 2018 by component: Securities Derivatives Defined Benefit Plans Accumulated Other Comprehensive Loss (In thousands) Balance at December 31, 2017 $ (4,042 ) $ (4,181 ) $ (4,329 ) $ (12,552 ) Cumulative-effect adjustment due to change in accounting principle (ASU 2016-01) 237 — — 237 Current-period other comprehensive (loss) income (6,076 ) 1,611 122 (4,343 ) Balance at September 30, 2018 $ (9,881 ) $ (2,570 ) $ (4,207 ) $ (16,658 ) Balance at December 31, 2018 $ (7,400 ) $ (2,770 ) $ (3,246 ) $ (13,416 ) Cumulative-effect adjustment due to change in accounting principle (ASU 2017-08) 7 — — 7 Current-period other comprehensive income 6,815 2 68 6,885 Balance at September 30, 2019 $ (578 ) $ (2,768 ) $ (3,178 ) $ (6,524 )

SECURITIES

SECURITIES	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
SECURITIES	4. SECURITIES Securities available-for-sale are summarized as follows: September 30, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Available-for-sale securities: Debt securities: Government-sponsored enterprise obligations $ 20,150 $ — $ (24 ) $ 20,126 State and municipal bonds 2,721 100 — 2,821 Corporate bonds 7,811 84 (66 ) 7,829 Total debt securities 30,682 184 (90 ) 30,776 Mortgage-backed securities: Government-sponsored mortgage-backed securities 188,866 701 (1,435 ) 188,132 U.S. government guaranteed mortgage-backed securities 12,449 89 (188 ) 12,350 Total mortgage-backed securities 201,315 790 (1,623 ) 200,482 Total available-for-sale $ 231,997 $ 974 $ (1,713 ) $ 231,258 December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Available-for-sale securities: Debt securities: Government-sponsored enterprise obligations $ 25,150 $ — $ (1,203 ) $ 23,947 State and municipal bonds 2,976 33 (65 ) 2,944 Corporate bonds 49,819 — (1,651 ) 48,168 Total debt securities 77,945 33 (2,919 ) 75,059 Mortgage-backed securities: Government-sponsored mortgage-backed securities 165,605 1 (6,255 ) 159,351 U.S. government guaranteed mortgage-backed securities 20,089 1 (752 ) 19,338 Total mortgage-backed securities 185,694 2 (7,007 ) 178,689 Total available-for-sale $ 263,639 $ 35 $ (9,926 ) $ 253,748 At September 30, 2019, government-sponsored enterprise obligations with a fair value of $7.0 million and mortgage-backed securities with a fair value $53.1 million were pledged to secure public deposits and for other purposes as required or permitted by law. In 2019, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2017-08, Receivables – Nonrefundable Fees and Other Costs Premium Amortization on Purchased Callable Debt Securities The amortized cost and fair value of available-for-sale debt securities at September 30, 2019, by final maturity, are shown below. Actual maturities may differ from contractual maturities because certain issuers have the right to call or prepay obligations. Also, because mortgage-backed securities require periodic principal paydowns, they are not included in the maturity categories in the following maturity summary. September 30, 2019 Amortized Cost Fair Value (In thousands) Available-for-sale securities: Debt securities:: Due after one year through five years $ 16,623 $ 16,623 Due after five years through ten years 7,324 7,371 Due after ten years 6,735 6,782 Total debt securities 30,682 30,776 Mortgage-backed securities 201,315 200,482 Total available-for-sale securities $ 231,997 $ 231,258 Gross realized gains and losses on sales of securities available-for-sale for the three and nine months ended September 30, 2019 and 2018 are as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Gross gains realized $ 49 $ — $ 148 $ — Gross losses realized — — (160 ) (250 ) Net loss realized $ 49 $ — $ (12 ) $ (250 ) Proceeds from the sale of securities available-for-sale amounted to $57.4 million and $12.5 million for the nine months ended September 30, 2019 and 2018, respectively. Information pertaining to securities with gross unrealized losses at September 30, 2019 and December 31, 2018, aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows: September 30, 2019 Less Than 12 Months Over 12 Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In thousands) Available-for-sale: Government-sponsored mortgage-backed securities $ 128 $ 37,162 $ 1,307 $ 87,948 U.S. government guaranteed mortgage-backed securities 9 978 179 5,211 Corporate bonds — — 66 2,989 Government-sponsored enterprise obligations 12 2,488 12 1,488 Total available-for-sale $ 149 $ 40,628 $ 1,564 $ 97,636 December 31, 2018 Less Than 12 Months Over 12 Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In thousands) Available-for-sale: Government-sponsored mortgage-backed securities $ 74 $ 7,354 $ 6,181 $ 148,762 U.S. government guaranteed mortgage-backed securities 15 2,829 737 14,669 Corporate bonds 110 9,995 1,541 38,173 State and municipal bonds — — 65 1,532 Government-sponsored enterprise obligations — — 1,203 23,947 Total available-for-sale $ 199 $ 20,178 $ 9,727 $ 227,083 During the nine months ended September 30, 2019 and year ended December 31, 2018, the Company did not record any fair value impairment charges on its investments. Management regularly reviews the portfolio for securities with unrealized losses. At September 30, 2019, management did not consider any debt securities to have other-than-temporary impairment (“OTTI”) and attributes the unrealized losses to increases in current market yields compared to the yields at the time the investments were purchased by the Company and not due to credit quality. The process for assessing investments for OTTI may vary depending on the type of security. In assessing the Company’s investments in government-sponsored mortgage-backed securities and obligations, the contractual cash flows of these investments are guaranteed by the respective government-sponsored enterprise: Federal Home Loan Mortgage Corporation (“FHLMC”), Federal National Mortgage Association (“FNMA”), Federal Farm Credit Bank (“FFCB”), or Federal Home Loan Bank (“FHLB”). Accordingly, it is expected that the securities would not be settled at a price less than the par value of the Company’s investments. Management’s assessment of other debt securities within the portfolio includes reviews of market pricing, ongoing credit quality evaluations, assessment of the investments’ materiality, and duration of the investments’ unrealized loss position.

LOANS AND ALLOWANCE FOR LOAN LO

LOANS AND ALLOWANCE FOR LOAN LOSSES	9 Months Ended
	Sep. 30, 2019
Receivables [Abstract]
LOANS AND ALLOWANCE FOR LOAN LOSSES	5. LOANS AND ALLOWANCE FOR LOAN LOSSES Loans are recorded at the principal amount outstanding, adjusted for charge-offs, unearned premiums and deferred loan fees and costs. Interest on loans is calculated using the effective yield method on daily balances of the principal amount outstanding and is credited to income on the accrual basis to the extent it is deemed collectable. Our general policy is to discontinue the accrual of interest when principal or interest payments are delinquent 90 days or more based on the contractual terms of the loan, or earlier if the loan is considered impaired. Any unpaid amounts previously accrued on these loans are reversed from income. Subsequent cash receipts are applied to the outstanding principal balance or to interest income if, in the judgment of management, collection of the principal balance is not in question. Loans are returned to accrual status when they become current as to both principal and interest and perform in accordance with contractual terms for a period of at least six months, reducing the concern as to the collectability of principal and interest. Loan fees and certain direct loan origination costs are deferred, and the net fee or cost is recognized as an adjustment to interest income over the estimated average lives of the related loans. Major classifications of loans at the periods indicated were as follows: September 30, December 31, 2019 2018 (In thousands) Commercial real estate $ 821,321 $ 768,881 Residential real estate: Residential 1-4 family 580,881 577,641 Home equity 97,720 97,238 Commercial and industrial 241,732 243,493 Consumer 5,670 5,203 Total gross loans 1,747,324 1,692,456 Unearned premiums and deferred loan fees and costs, net 4,258 4,401 Allowance for loan losses (13,272 ) (12,053 ) Net loans $ 1,738,310 $ 1,684,804 There were no purchases of loans during the nine months ended September 30, 2019 and year ended December 31, 2018. Loans Serviced for Others. The Company has transferred a portion of its originated commercial loans to participating lenders. The amounts transferred have been accounted for as sales and are therefore not included in our accompanying consolidated balance sheets. We continue to service the loans on behalf of the participating lenders. We share with participating lenders, on a pro-rata basis, any gains or losses that may result from a borrower’s lack of compliance with contractual terms of the loan. At September 30, 2019 and December 31, 2018, the Company was servicing commercial loans participated out to various other institutions totaling $32.2 million and $35.4 million, respectively. Residential real estate mortgages are originated by the Bank both for its portfolio and for sale into the secondary market. The Bank may sell its loans to institutional investors such as the FHLMC. The Bank generally continues to service the residential real estate mortgages under its loan sale and servicing agreements with the investor. The Bank pays the investor an agreed upon rate on the loan, which is less than the interest rate received from the borrower. The Bank retains the difference as a fee for servicing the residential real estate mortgages. The Bank capitalizes mortgage servicing rights at their fair value upon sale of the related loans, amortizes the asset over the estimated life of the serviced loan, and periodically assesses the asset for impairment. The significant assumptions used by a third party to estimate the fair value of capitalized servicing rights at September 30, 2019, include weighted average prepayment speed for the portfolio using the Public Securities Association Standard Prepayment Model (180 PSA), weighted average internal rate of return (12.05%), weighted average servicing fee (0.25%), and net cost to service loans ($83.53 per loan). The estimated fair value of capitalized servicing rights may vary significantly in subsequent periods primarily due to changing market interest rates, and their effect on prepayment speeds and discount rates. At September 30, 2019 and December 31, 2018, the Company was servicing residential mortgage loans owned by investors totaling $50.7 million and $56.6 million, respectively. Net service fee income of $52,000 and $68,000 was recorded for the nine months ended September 30, 2019 and 2018, respectively, and is included in service charges and fees on the consolidated statements of operations. A summary of the activity in the balances of mortgage servicing rights follows: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 (In thousands) Balance at the beginning of period $ 253 $ 286 Capitalized mortgage servicing rights — — Amortization (17 ) (50 ) Balance at the end of period $ 236 $ 236 Fair value at the end of period $ 357 $ 357 Allowance for Loan Losses. The allowance for loan losses is established through provisions for loan losses charged to expense. Loans are charged-off against the allowance when management believes that the collectability of the principal is unlikely. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general, allocated, and unallocated components, as further described below. General component The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: residential real estate (includes one-to-four family and home equity), commercial real estate, commercial and industrial, and consumer. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: trends in delinquencies and nonperforming loans; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards and other changes in lending policies, procedures and practices; and national and local economic trends and industry conditions. There were no changes in our policies or methodology pertaining to the general component of the allowance for loan losses during the periods presented for disclosure. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Residential real estate Commercial real estate. Commercial and industrial loans Consumer loans Allocated component The allocated component relates to loans that are classified as impaired. Impaired loans are identified by analysis of loan performance, internal credit ratings and watch list loans that management believes are subject to a higher risk of loss. Impairment is measured on a loan by loan basis for commercial real estate and commercial and industrial loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, we do not separately identify individual consumer and residential real estate loans for impairment disclosures, unless such loans are subject to a troubled debt restructuring agreement. A loan is considered impaired when, based on current information and events, it is probable that we will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. We determine the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Unallocated component An unallocated component may be maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance, if any, reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio. An analysis of changes in the allowance for loan losses by segment for the nine months ended September 30, 2019 and 2018 is as follows: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) Three Months Ended Balance at June 30, 2018 $ 5,458 $ 3,529 $ 2,922 $ 92 $ (15 ) $ 11,986 Provision (credit) (389 ) 481 211 45 2 350 Charge-offs — (393 ) (30 ) (40 ) — (463 ) Recoveries 334 9 8 11 — 362 Balance at September 30, 2018 $ 5,403 $ 3,626 $ 3,111 $ 108 $ (13 ) $ 12,235 Balance at June 30, 2019 $ 5,690 $ 3,619 $ 2,960 $ 153 $ 1 $ 12,423 Provision (credit) 844 312 63 81 (25 ) 1,275 Charge-offs (200 ) (180 ) (20 ) (70 ) — (470 ) Recoveries — 26 5 13 — 44 Balance at September 30, 2019 $ 6,334 $ 3,777 $ 3,008 $ 177 $ (24 ) $ 13,272 Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) Nine Months Ended Balance at December 31, 2017 $ 4,712 $ 3,311 $ 2,733 $ 71 $ 4 $ 10,831 Provision (credit) 322 762 415 118 (17 ) 1,600 Charge-offs — (473 ) (55 ) (125 ) — (653 ) Recoveries 369 26 18 44 — 457 Balance at September 30, 2018 $ 5,403 $ 3,626 $ 3,111 $ 108 $ (13 ) $ 12,235 Balance at December 31, 2018 $ 5,260 $ 3,556 $ 3,114 $ 135 $ (12 ) $ 12,053 Provision (credit) 644 498 397 148 (12 ) 1,675 Charge-offs (419 ) (305 ) (514 ) (155 ) — (1,393 ) Recoveries 849 28 11 49 — 937 Balance at September 30, 2019 $ 6,334 $ 3,777 $ 3,008 $ 177 $ (24 ) $ 13,272 The following table presents information pertaining to the allowance for loan losses by segment for the dates indicated: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) September 30, 2019 Amount of allowance for impaired loans $ — $ — $ — $ — $ — $ — Amount of allowance for non-impaired loans 6,334 3,777 3,008 177 (24 ) 13,272 Total allowance for loan losses $ 6,334 $ 3,777 $ 3,008 $ 177 $ (24 ) $ 13,272 Impaired loans $ 4,691 $ 3,420 $ 2,190 $ 43 $ — $ 10,344 Non-impaired loans 807,031 672,323 238,713 5,627 — 1,723,694 Impaired loans acquired with deteriorated credit quality 9,599 2,858 829 — — 13,286 Total loans $ 821,321 $ 678,601 $ 241,732 $ 5,670 $ — $ 1,747,324 December 31, 2018 Amount of allowance for impaired loans $ — $ — $ — $ — $ — $ — Amount of allowance for non-impaired loans 5,260 3,556 3,114 135 (12 ) 12,053 Total allowance for loan losses $ 5,260 $ 3,556 $ 3,114 $ 135 $ (12) $ 12,053 Impaired loans $ 5,237 $ 4,754 $ 2,345 $ 60 $ — $ 12,396 Non-impaired loans 752,770 666,883 240,235 5,143 — 1,665,031 Impaired loans acquired with deteriorated credit quality 10,874 3,242 913 — — 15,029 Total loans $ 768,881 $ 674,879 $ 243,493 $ 5,203 $ — $ 1,692,456 Past Due and Non-accrual Loans. The following tables present an age analysis of past due loans as of the dates indicated: 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days or More Past Due Total Past Due Loans Total Current Loans Total Loans Non-Accrual Loans (In thousands) September 30, 2019 Commercial real estate $ 1,017 $ 1,889 $ 2,609 $ 5,515 $ 815,806 $ 821,321 $ 4,131 Residential real estate: Residential 1,829 1,004 1,143 3,976 576,905 580,881 4,258 Home equity 94 46 150 290 97,430 97,720 378 Commercial and industrial 1,637 1,624 342 3,603 238,129 241,732 2,248 Consumer 34 2 15 51 5,619 5,670 43 Total loans $ 4,611 $ 4,565 $ 4,259 $ 13,435 $ 1,733,889 $ 1,747,324 $ 11,058 December 31, 2018 Commercial real estate $ 1,857 $ — $ 2,865 $ 4,722 $ 764,159 $ 768,881 $ 4,701 Residential real estate: Residential 1,798 572 1,879 4,249 573,392 577,641 5,856 Home equity 600 5 242 847 96,391 97,238 391 Commercial and industrial 794 1,463 305 2,562 240,931 243,493 2,476 Consumer 93 1 21 115 5,088 5,203 60 Total loans $ 5,142 $ 2,041 $ 5,312 $ 12,495 $ 1,679,961 $ 1,692,456 $ 13,484 Impaired Loans. The following is a summary of impaired loans by class: Three Months Ended Nine Months Ended At September 30, 2019 September 30, 2019 September 30, 2019 Recorded Investment Unpaid Principal Balance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Impaired Loans (1) Commercial real estate $ 14,290 $ 17,572 $ 15,558 $ 182 $ 16,542 $ 481 Residential real estate 5,875 7,200 6,375 23 6,805 87 Home equity 403 470 406 — 408 — Commercial and industrial 3,019 8,131 3,466 37 3,743 111 Consumer 43 56 45 — 50 — Total impaired loans $ 23,630 $ 33,429 $ 25,850 $ 242 $ 27,548 $ 679 Three Months Ended Nine Months Ended At December 31, 2018 September 30, 2018 September 30, 2018 Recorded Investment Unpaid Principal Balance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Impaired Loans (1) Commercial real estate $ 16,111 $ 19,081 $ 14,240 $ 186 $ 14,736 $ 558 Residential real estate 7,558 8,614 7,302 14 6,949 33 Home equity 438 468 613 1 652 3 Commercial and industrial 3,258 7,788 4,413 34 4,201 106 Consumer 60 70 78 — 93 — Total impaired loans $ 27,425 $ 36,021 $ 26,646 $ 235 $ 26,631 $ 700 (1) The majority of impaired loans are included within the non-accrual balances; however, not every loan on non-accrual status has been designated as impaired. Impaired loans include loans that have been modified in a troubled debt restructuring (“TDR”). Impaired loans are individually evaluated and exclude large groups of smaller-balance homogeneous loans, such as residential mortgage loans and consumer loans, which are collectively evaluated for impairment, and loans that are measured at fair value, unless the loan is amended in a TDR. All payments received on impaired loans in non-accrual status are applied to principal. There was no interest income recognized on nonaccrual impaired loans during the three and nine months ended September 30, 2019 and 2018. The Company’s obligation to fulfill the additional funding commitments on impaired loans is generally contingent on the borrower’s compliance with the terms of the credit agreement. If the borrower is not in compliance, additional funding commitments may or may not be made at the Company’s discretion. As of September 30, 2019, we have not committed to lend any additional funds for loans that are classified as impaired. Payments received on performing impaired loans are recorded in accordance with the contractual terms of the loan. Interest income recognized on impaired loans during the three and nine months ended September 30, 2019 and 2018 pertained to performing TDRs and purchased impaired loans. Troubled Debt Restructurings. Loans are designated as a TDR when, as part of an agreement to modify the original contractual terms of the loan as a result of financial difficulties of the borrower, the Bank grants the borrower a concession on the terms, that would not otherwise be considered. Typically, such concessions may consist of a reduction in interest rate to a below market rate, taking into account the credit quality of the note, extension of additional credit based on receipt of adequate collateral, or a deferment or reduction of payments (principal or interest) which materially alters the Bank’s position or significantly extends the note’s maturity date, such that the present value of cash flows to be received is materially less than those contractually established at the loan’s origination. All loans that are modified are reviewed by the Company to identify if a TDR has occurred. All TDR loans are classified as impaired. When we modify loans in a TDR, we measure impairment similar to other impaired loans based on the present value of expected future cash flows, discounted at the contractual interest rate of the original loan agreement, or use the current fair value of the collateral, less selling costs for collateral dependent loans. If we determine that the value of the modified loan is less than the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount), impairment is recognized through a charge-off to the allowance. Non-performing TDRs are included in non-performing loans. Nonperforming TDRs are shown as nonperforming assets. There were no loans designated as TDRs during the three months ended September 30, 2019. Two substandard impaired loan relationships in the aggregate amount of $2.4 million were designated as TDRs during the nine months ended September 30, 2019. One loan relationship consisting of a commercial real estate loan and a commercial and industrial loan totaling $2.2 million was classified as a TDR during the nine months ended September 30, 2019 as the Bank entered into a forbearance agreement with the customer that allows for interest-only payments for a specified term. Both loans to the customer were current as of September 30, 2019 and the loan relationship is considered to be adequately secured by real estate. The Bank will continue to monitor the loan relationship for ongoing impairment on a quarterly basis. In addition, a second loan relationship consisting of a commercial real estate loan and a commercial and industrial loan totaling $166,000 was modified as a TDR during the nine months ended September 30, 2019 to allow for interest-only payments for a specified term. Both loans were in nonperforming status as of September 30, 2019, however; the second loan relationship is considered to be adequately secured by real estate. The Bank will continue to be monitor the second loan relationship for ongoing impairment on a quarterly basis. There were no significant loans modified in TDRs during the three and nine months ended September 30, 2018. Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (Dollars in thousands) (Dollars in thousands) Troubled Debt Restructurings Commercial Real Estate — $ — $ — 2 $ 2,032 $ 2,032 Commercial and Industrial — — — 2 383 383 Total — $ — $ — 4 $ 2,415 $ 2,415 During the three and nine months ended September 30, 2019 and 2018, no TDRs defaulted (defined as 30 days or more past due) within 12 months of restructuring. As of September 30, 2019, we have not committed to lend any additional funds for loans that are classified as impaired. There were $715,000 in charge-offs on TDRs during the nine months ended September 30, 2019. There were no charge-offs on TDRs during the three and nine months ended September 30, 2018. Loans Acquired with Deteriorated Credit Quality. The following is a summary of loans acquired in the Chicopee Bancorp, Inc. (“Chicopee”) acquisition with evidence of credit deterioration as of September 30, 2019 and 2018. Contractual Required Payments Receivable Cash Expected To Be Collected Non- Accretable Discount Accretable Yield Loans Receivable (In thousands) Balance at December 31, 2018 $ 24,793 $ 19,883 $ 4,910 $ 4,854 $ 15,029 Collections (2,313 ) (2,187 ) (126 ) (487 ) (1,700 ) Dispositions (242 ) (242 ) — (199 ) (43 ) Balance at September 30, 2019 $ 22,238 $ 17,454 $ 4,784 $ 4,168 $ 13,286 Contractual Required Payments Receivable Cash Expected To Be Collected Non- Accretable Discount Accretable Yield Loans Receivable (In thousands) Balance at December 31, 2017 $ 29,362 $ 23,158 $ 6,204 $ 6,033 $ 17,125 Collections (3,370 ) (2,258 ) (1,112 ) (504 ) (1,754 ) Dispositions — — — — — Balance at September 30, 2018 $ 25,992 $ 20,900 $ 5,092 $ 5,529 $ 15,371 Credit Quality Information. The Company utilizes an eight-grade internal loan rating system for commercial real estate and commercial and industrial loans. Performing residential real estate, home equity and consumer loans are grouped with “Pass” rated loans. Non-performing residential real estate, home equity and consumer loans are monitored individually for impairment and risk rated as “substandard”. Loans rated 1 – 4 Loans rated 5 Loans rated 6 Loans rated 7 Loans rated 8 We formally review the ratings on all commercial real estate and commercial and industrial loans annually or more frequently if needed. In addition, management utilizes delinquency reports, the criticized report and other loan reports to monitor credit quality. The Company contracts with an external loan review company to review the internal credit ratings assigned to loans in the commercial loan portfolio on a pre-determined schedule, based on the type, size, rating, and overall risk of the loan at least once per year. During the course of its review, the third party examines a sample of loans, including new loans, existing relationships over certain dollar amounts and classified assets. The following table presents our loans by risk rating for the periods indicated: Commercial Real Estate Residential 1-4 Family Home Equity Commercial and Industrial Consumer Total (In thousands) September 30, 2019 Pass (Rated 1 – 4) $ 770,820 $ 575,352 $ 97,178 $ 210,992 $ 5,627 $ 1,659,969 Special Mention (Rated 5) 21,981 — — 4,480 — 26,461 Substandard (Rated 6) 28,520 5,529 542 26,260 43 60,894 $ 821,321 $ 580,881 $ 97,720 $ 241,732 $ 5,670 $ 1,747,324 December 31, 2018 Pass (Rated 1 – 4) $ 732,729 $ 570,428 $ 96,643 $ 207,663 $ 5,143 $ 1,612,606 Special Mention (Rated 5) 17,929 — — 12,248 — 30,177 Substandard (Rated 6) 18,223 7,213 595 23,582 60 49,673 Total $ 768,881 $ 577,641 $ 97,238 $ 243,493 $ 5,203 $ 1,692,456

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES	6. GOODWILL AND OTHER INTANGIBLES At September 30, 2019 and December 31, 2018, the Company’s goodwill was related to the acquisition of Chicopee in October 2016. There was no goodwill impairment recorded during the three and nine months ended September 30, 2019 or the year ended December 31, 2018. Annually, or more frequently if events or changes in circumstances warrant such evaluation, the Company evaluates its goodwill for impairment. Core Deposit Intangibles. In connection with the acquisition of Chicopee, the Bank recorded a core deposit intangible of $4.5 million which is amortized over twelve years using the straight-line method. Amortization expense was $94,000 and $282,000 for the three and nine months ended September 30, 2019 and 2018, respectively. At September 30, 2019, future amortization of the core deposit intangible totaled $375,000 for each of the next five years and $1.5 million thereafter.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	7. SHARE-BASED COMPENSATION Stock Options. Under the terms of the Chicopee merger agreement dated October 21, 2016, each option to purchase shares of Chicopee common stock issued by Chicopee and outstanding at the effective time of the merger pursuant to the Chicopee 2007 Equity Incentive Plan fully vested and converted into an option to purchase shares of WNEB common stock on the same terms and conditions as were applicable before the merger, except (1) the number of shares of WNEB common stock subject to the new option was adjusted to be equal to the product of the number of shares of Chicopee common stock subject to the existing option and the exchange ratio (rounding fractional shares to the nearest whole share) and (2) the exercise price per share of WNEB common stock under the new option was adjusted to be equal to the exercise price per share of Chicopee common stock of the existing option divided by the exchange ratio (rounded to the nearest whole cent). A summary of stock option activity for the nine months ended September 30, 2019 is presented below: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2018 238,075 $ 6.33 3.44 $ 877 Exercised (12,550 ) 5.12 0.74 60 Outstanding at September 30, 2019 225,525 $ 6.40 2.83 $ 701 Exercisable at September 30, 2019 225,525 $ 6.40 2.83 $ 701 Cash received for options exercised during the nine months ended September 30, 2019 and 2018 was $64,000 and $114,000, respectively. Restricted Stock Awards. In May 2014, the Company’s shareholders approved a stock-based compensation plan (the “RSA Plan”). Under the RSA Plan, up to 516,000 shares of the Company’s common stock were reserved for grants of stock awards, including stock options and restricted stock, which may be granted to any officer, key employee or non-employee director of WNEB. Any shares that are not issued because vesting requirements are not met will be available for future issuance under the RSA Plan. In January 2015, there were 48,560 shares granted under the RSA Plan. These shares vest ratably over five years. The fair market value of shares awarded are based on the market price at the grant date and recorded as unearned compensation. The shares are amortized over the applicable vesting period. In 2016, the Compensation Committee approved a long-term incentive program (the “LTI Plan”). The 2016 LTI Plan provides a periodic award that is both performance and time-based and is designed to recognize the executive’s responsibilities, reward performance and leadership and as a retention tool. The objective of the 2016 LTI Plan is to align compensation for the named executive officers and directors over a multi-year period directly with the interests of our shareholders by motivating and rewarding creation and preservation of long-term financial strength, shareholder value and relative shareholder return. The 2016 LTI Plan includes eligible participants of the Company that are nominated by the Chief Executive Officer and approved by the Compensation Committee. The 2016 LTI Plan is triggered by the Company’s achievement of satisfactory safety and soundness results from its most recent regulatory examination and additional Company performance metrics. Stock grants made under the 2016 LTI Plan consist of 50% time-based stock and 50% performance-based stock. In May 2016, there were 62,740 shares granted under the 2016 LTI Plan. Of the 62,740 shares granted, 36,543 shares were time-based stock, with 10,352 vesting in one year and 26,191 vesting ratably over a three-year period. The remaining 26,197 shares granted were performance-based and are subject to the achievement of the 2016 LTI performance metrics. Under the 2016 LTI Plan, the primary performance metric was return on equity. As a result of the Tax Cuts and Jobs Act of 2017, the return on equity performance metrics were adjusted to incorporate the impact and benefits of the corporate tax rate reductions thereunder. The original and adjusted threshold and target metrics under the 2016 LTI Plan are as follows: Return on Equity Metrics Threshold Target Original metrics 5.85 % 6.32 % Adjusted metrics 6.38 % 6.79 % As of December 31, 2018, the three-year performance period for the 2016 LTI Plan performance-based share grant expired. Performance-based shares were earned based on the Company achieving the 2016 LTI Plan threshold and target metrics at the end of the three-year performance period. The Company’s return on equity for the year ended December 31, 2018 was 6.82%, which resulted in the achievement of the target return on equity metric for the 2016 LTI Plan grant. In February 2019, 26,197 performance-based shares vested and were granted to eligible recipients under the Plan. In May 2017, there were 89,042 shares granted under the 2017 LTI Plan. Of the 89,042 shares, 55,159 shares are time-based, with 21,276 vesting in one year and 33,883 vesting ratably over a three-year period. The remaining 33,883 shares granted were performance-based and are subject to the achievement of the 2017 LTI performance metric. Vesting is realized after a three-year period. Under the 2017 LTI Plan, the primary performance metric was return on equity. Performance-based shares will be earned based upon how the Company performs relative to threshold, target and maximum absolute goals (i.e. Company-specific, not relative to a peer index) on an annual performance period, but will be distributed at the end of the three-year period. Eligible participants will be able to earn between 50% (“threshold” performance), 100% (“target” performance) and 150% (“maximum” performance). As a result of the Tax Cuts and Jobs Act of 2017, the return on equity performance metrics were adjusted to incorporate the impact and benefits of the corporate tax rate reductions thereunder. The original and adjusted threshold, target and maximum metrics for 2019 under the 2017 LTI Plan are as follows: Return on Equity Metrics Performance Period Ending Original Threshold Adjusted Threshold Original Target Adjusted Target Original Maximum Adjusted Maximum December 31, 2019 6.50 % 7.09 % 7.20 % 7.85 % 7.90 % 8.61 % In January 2018, there were 83,812 shares granted under the 2018 LTI Plan. Of the 83,812 shares, 50,852 shares were time-based, with 17,908 vesting in one year and 32,944 vesting ratably over a three-year period. The remaining 32,960 shares granted are performance-based and are subject to the achievement of the 2018 long-term incentive performance metric. Under the 2018 LTI Plan, the primary performance metric was return on equity. Performance shares will be earned based upon how the Company performs relative to threshold, target and maximum absolute goals (i.e. Company-specific, not relative to a peer index) on an annual performance period, but will be distributed at the end of the three-year period. The threshold, target and stretch metrics under the 2018 LTI Plan are as follows: Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2019 6.85 % 7.35 % 7.75 % December 31, 2020 7.40 % 7.90 % 8.30 % Eligible participants will be able to earn between 50% (“threshold” performance), 100% (“target” performance) and 150% (“maximum” performance). The fair market value of shares awarded is based on the market price at the grant date, recorded as unearned compensation and amortized over the applicable vesting period. Performance-based metrics are monitored on a quarterly basis in order to compare actual results to the performance metric, with any necessary adjustments being recognized through share-based compensation expense and unearned compensation. In February 2019, there were 108,718 shares granted under the 2019 LTI Plan. Of the 108,718 shares, 64,496 shares were time-based, with 20,262 vesting in one year and 44,234 vesting ratably over a three-year period. The remaining 44,222 shares granted are performance-based and are subject to the achievement of the 2019 long-term incentive performance metric. Under the 2019 LTI Plan, the primary performance metric was return on equity. Performance shares will be earned based upon how the Company performs relative to threshold, target and maximum absolute goals (i.e. Company-specific, not relative to a peer index) on an annual performance period, but will be distributed at the end of the three-year period. The threshold, target and stretch metrics under the 2019 LTI Plan are as follows: Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2019 5.75 % 6.13 % 7.00 % December 31, 2020 6.00 % 6.75 % 7.75 % December 31, 2021 6.25 % 7.00 % 8.00 % Eligible participants will be able to earn between 50% (“threshold” performance), 100% (“target” performance) and 150% (“maximum” performance). The fair market value of shares awarded is based on the market price at the grant date, recorded as unearned compensation and amortized over the applicable vesting period. Performance-based metrics are monitored on a quarterly basis in order to compare actual results to the performance metric, with any necessary adjustments being recognized through share-based compensation expense and unearned compensation. At September 30, 2019, there were an additional 129,177 shares available for future grants under the RSA Plan. A summary of the status of restricted stock awards at September 30, 2019 is presented below: Shares Weighted Average Grant Date Fair Value Balance at December 31, 2018 155,712 $ 9.87 Shares granted 108,718 9.77 Shares vested (53,465 ) 8.75 Shares forfeited (1,842 ) 9.77 Balance at September 30, 2019 209,123 $ 10.11 Shares Weighted Average Grant Date Fair Value Balance at December 31, 2017 138,833 $ 8.98 Shares granted 83,812 11.05 Shares vested (32,476 ) 9.13 Balance at September 30, 2018 190,169 $ 9.87 We recorded total expense for restricted stock awards of $580,000 and $707,000 for the nine months ended September 30, 2019 and 2018, respectively.

SHORT-TERM BORROWINGS AND LONG-

SHORT-TERM BORROWINGS AND LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
SHORT-TERM BORROWINGS AND LONG-TERM DEBT	8. SHORT-TERM BORROWINGS AND LONG-TERM DEBT As a member of the FHLB, the Bank has the potential capacity to borrow an amount up to the value of its discounted qualified collateral. Borrowings from the FHLB are secured by certain securities from the Company’s investment portfolio not otherwise pledged as well as certain residential real estate and commercial real estate loans. FHLB advances with an original maturity of less than one year totaled $35.0 million and $59.3 million at September 30, 2019 and December 31, 2018, respectively, with a weighted average rate of 2.26% and 3.28%, respectively. At September 30, 2019, based on qualifying collateral less outstanding advances, the Bank had the additional capacity to borrow up to approximately $232.7 million from the FHLB. In addition, at September 30, 2019 and December 31, 2018, the Company had an available IDEAL Way line of credit with the FHLB for up to $9.5 million. Interest on this line of credit is payable at a rate determined and reset by the FHLB on a daily basis. The outstanding principal is due daily and the portion not repaid will be automatically renewed. At September 30, 2019 and December 31, 2018, there were no advances outstanding under this line. The Bank also had a line of credit in the amount up to $15.0 million with a correspondent bank at an interest rate determined and reset on a daily basis. There were no advances outstanding under this line at September 30, 2019 and 2018. We also had a $50.0 million line of credit with another correspondent bank at an interest rate determined and reset on a daily basis. There were no advances outstanding under the line at September 30, 2019 and 2018. Long-term debt consists of FHLB advances with an original maturity of one year or more. At September 30, 2019, we had $205.7 million in long-term debt with the FHLB. This compares to $208.0 million in long-term debt with FHLB advances at December 31, 2018.

PENSION BENEFITS

PENSION BENEFITS	9 Months Ended
	Sep. 30, 2019
Defined Benefit Plan [Abstract]
PENSION BENEFITS	9. PENSION BENEFITS We provide a defined benefit pension plan for eligible employees (the “Plan”). Employees must work a minimum of 1,000 hours per year to be eligible for the Plan. Eligible employees become vested in the Plan after five years of service. We plan to contribute to the pension plan the amount required to meet the minimum funding standards under Section 412 of the Internal Revenue Code of 1986, as amended. Additional contributions will be made as deemed appropriate by management in conjunction with the pension plan’s actuaries. We have not yet determined how much we expect to contribute to our pension plan in 2019. No contributions have been made to the plan for the nine months ended September 30, 2019. The pension plan assets are invested in various pooled separate investment accounts offered by Principal Life Insurance Company, a division of Principal Financial Group, who is the Custodian of the Plan (the “Custodian”). The Plan is administered by an officer of Westfield Bank. On September 30, 2016, we effected a soft freeze on the Plan and therefore no new participants will be included in the Plan after such effective date. The following table provides information regarding net pension benefit costs for the periods shown: Three Months Ended Nine Months Ended, September 30, September 30, 2019 2018 2019 2018 (In thousands) Service cost $ 274 $ 304 $ 822 $ 910 Interest cost 284 253 852 759 Expected return on assets (308 ) (347 ) (924 ) (1,041 ) Actuarial loss 32 56 96 170 Net periodic pension cost $ 282 $ 266 $ 846 $ 798

DERIVATIVES AND HEDGING ACTIVIT

DERIVATIVES AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND HEDGING ACTIVITIES	10. DERIVATIVES AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives. The Company is exposed to certain risks arising from both our business operations and economic conditions. We principally manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of our assets and liabilities and the use of derivative financial instruments. Specifically, we entered into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Our derivative financial instruments are used to manage differences in the amount, timing, and duration of our known or expected cash receipts and our known or expected cash payments principally related to certain variable rate loan assets and variable rate borrowings. The following table presents information about our cash flow hedges at September 30, 2019 and December 31, 2018: September 30, 2019 Notional Weighted Average Weighted Average Rate Estimated Amount Maturity Receive Pay Fair Value (In thousands) (In years) (In thousands) Cash flow hedges: Interest rate swaps on FHLB borrowings $ 35,000 3.0 2.12 % 3.54 % $ (2,076 ) Non-hedging derivatives: Loan-level swaps – dealer 1,996 9.9 2.08 % 3.79 % (100 ) Loan-level swaps – borrower 1,996 9.9 3.79 % 2.08 % 100 Total $ 38,992 $ (2,076 ) December 31, 2018 Notional Weighted Average Weighted Average Rate Estimated Amount Maturity Receive Pay Fair Value (In thousands) (In years) (In thousands) Cash flow hedges: Interest rate swaps on FHLB borrowings $ 35,000 3.7 2.79 % 3.54 % $ (1,259 ) At September 30, 2019, the Company had $35.0 million in derivatives designated as hedging instruments and $4.0 million in derivatives designated as non-hedging instruments. At December 31, 2018, all derivatives were designated as hedging instruments. Cash Flow Hedges of Interest Rate Risk. The Company’s objectives in using interest rate derivatives are to add stability to interest income and expense and to manage its exposure to interest rate movements. To accomplish this objective, we entered into interest rate swaps as part of our interest rate risk management strategy. These interest rate swaps are designated as cash flow hedges and involve the receipt of variable rate amounts from a counterparty in exchange for our making fixed payments. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative is initially reported in other comprehensive income (outside of earnings), net of tax, and subsequently reclassified to earnings when the hedged transaction affects earnings. The ineffective portion of changes in the fair value of the derivative is recognized directly in earnings. We assess the effectiveness of each hedging relationship by comparing the changes in cash flows of the derivative hedging instrument with the changes in cash flows of the designated hedged transactions. We did not recognize any hedge ineffectiveness in earnings for the three and nine months ended September 30, 2019 or the year ended December 31, 2018. We are hedging our exposure to the variability in future cash flows for forecasted transactions over a maximum period of six years (excluding forecasted payment of variable interest on existing financial instruments). Non-hedging Derivatives. Derivatives not designated as hedges are not speculative but rather result from a service the Company provides to certain customers. The Company executes loan level derivative products such as interest-rate swap agreements with commercial banking customers to aid them in managing their interest-rate risk by converting floating-rate loan payments to fixed-rate loan payments. The Company concurrently enters into offsetting swaps with a third party financial institution, effectively minimizing its net risk exposure resulting from such transactions. The third-party financial institution exchanges the customer’s fixed-rate loan payments for floating-rate loan payments. As the interest-rate swap agreements associated with this program do not meet hedge accounting requirements, changes in the fair value are recognized directly in earnings. Fair Values of Derivative Instruments on the Balance Sheet. The table below presents the fair value of our derivative financial instruments designated as hedging instruments as well as our classification on the balance sheet as of September 30, 2019 and December 31, 2018. September 30, 2019 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Derivatives designated as hedging instruments: Interest rate swaps – cash flow hedge Other Assets $ — Other Liabilities $ 2,076 Total derivatives designated as hedging instruments $ — $ 2,076 Derivatives not designated as hedging instruments: Interest rate swap – with customers $ 100 $ — Interest rate swap – with counterparties — 100 Total derivatives not designated as hedging instruments $ 100 $ 100 December 31, 2018 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Derivatives designated as hedging instruments: Interest rate swaps Other Assets $ — Other Liabilities $ 1,259 Effect of Derivative Instruments in the Consolidated Statements of Operations and Changes in Shareholders’ Equity. The table below presents the pre-tax net gains (losses) of our cash flow hedges for the periods indicated: Amount of Gain (Loss) Recognized in OCI on Derivative Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Interest rate swaps $ (142 ) $ 168 $ (1,053 ) $ 1,086 Amounts reported in accumulated other comprehensive loss related to these derivatives are reclassified to interest expense as interest payments are made on our designated rate sensitive liabilities. The table below presents the amount reclassified from accumulated other comprehensive income into net income for interest rate swaps and termination fees: Amount of Gain (Loss) Reclassified from OCI into Expense (Effective Portion) Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Interest rate swaps $ 374 $ 351 $ 1,056 $ 1,154 During the next 12 months, we estimate that $1.6 million will be reclassified as an increase in interest expense. During the three and nine months ended September 30, 2019 and 2018, no gains or losses were reclassified from accumulated other comprehensive loss into income for ineffectiveness on cash flow hedges. Credit-risk-related Contingent Features By using derivative financial instruments, we expose ourselves to credit risk. Credit risk is the risk of failure by the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes us, which creates credit risk for us. When the fair value of a derivative is negative, we owe the counterparty and, therefore, it does not possess credit risk. The credit risk in derivative instruments is mitigated by entering into transactions with highly-rated counterparties that we believe to be creditworthy and by limiting the amount of exposure to each counterparty. We have agreements with our derivative counterparties that contain a provision where if we default on any of our indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then we could also be declared in default on our derivative obligations. We also have agreements with certain of our derivative counterparties that contain a provision where if we fail to maintain our status as well capitalized, then the counterparty could terminate the derivative positions and we would be required to settle our obligations under the agreements. Certain of our agreements with our derivative counterparties contain provisions where if a formal administrative action by a federal or state regulatory agency occurs that materially changes our creditworthiness in an adverse manner, we may be required to fully collateralize our obligations under the derivative instrument. At September 30, 2019 and December 31, 2018, we had a net liability position of $2.2 million and $1.3 million with our counterparties, respectively. As of September 30, 2019, we had minimum collateral posting thresholds with certain of our derivative counterparties and had mortgage-backed securities with a fair value of $2.2 million and $300,000 in cash posted as collateral against our obligations under these agreements. If we had breached any of these provisions at September 30, 2019, we could have been required to settle our obligations under the agreements at the termination value.

FAIR VALUE OF ASSETS AND LIABIL

FAIR VALUE OF ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE OF ASSETS AND LIABILITIES	11. FAIR VALUE OF ASSETS AND LIABILITIES Determination of Fair Value. We use fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for our various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Fair Value Hierarchy. We group our assets and liabilities that are measured at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. Level 1: Valuation is based on quoted prices in active markets for identical assets. Level 1 assets generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets. Level 2: Valuation is based on observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3: Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets. Level 3 assets include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Methods and assumptions for valuing our financial instruments measured at fair value on a recurring basis are set forth below. Estimated fair values are calculated based on the value without regard to any premium or discount that may result from concentrations of ownership of a financial instrument, possible tax ramifications or estimated transaction cost. Securities Available-for-sale. The securities measured at fair value in Level 1 are based on quoted market prices in an active exchange market. These securities include marketable equity securities. All other securities are measured at fair value in Level 2 and are based on pricing models that consider standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes, credit spreads and new issue data. These securities include government-sponsored enterprise obligations, state and municipal obligations, residential mortgage-backed securities guaranteed and sponsored by the U.S. government or an agency thereof. Fair value measurements are obtained from a third-party pricing service and are not adjusted by management. Interest Rate Swaps. The valuation of our interest rate swaps is obtained from a third-party pricing service and is determined using a discounted cash flow analysis on the expected cash flows of each derivative. The pricing analysis is based on observable inputs for the contractual terms of the derivatives, including the period to maturity and interest rate curves. We have determined that the majority of the inputs used to value our interest rate derivatives fall within Level 2 of the fair value hierarchy. Assets and liabilities measured at fair value on a recurring basis are summarized below: September 30, 2019 Level 1 Level 2 Level 3 Total (In thousands) Assets: Government-sponsored mortgage-backed securities $ — $ 188,132 $ — $ 188,132 U.S. government guaranteed mortgage-backed securities — 12,350 — 12,350 Corporate bonds — 7,829 — 7,829 State and municipal bonds — 2,821 — 2,821 Government-sponsored enterprise obligations — 20,126 — 20,126 Marketable equity securities 6,726 — — 6,726 Interest rate swaps — 100 — 100 Total assets $ 6,726 $ 231,358 $ — $ 238,084 Liabilities: Interest rate swaps $ — $ 2,176 $ — $ 2,176 December 31, 2018 Level 1 Level 2 Level 3 Total (In thousands) Assets: Government-sponsored mortgage-backed securities $ — $ 159,351 $ — $ 159,351 U.S. government guaranteed mortgage-backed securities — 19,338 — 19,338 Corporate bonds — 48,168 — 48,168 State and municipal bonds — 2,944 — 2,944 Government-sponsored enterprise obligations — 23,947 — 23,947 Marketable equity securities 6,408 — — 6,408 Total assets $ 6,408 $ 253,748 $ — $ 260,156 Liabilities: Interest rate swaps $ — $ 1,259 $ — $ 1,259 Assets Measured at Fair Value on a Non-recurring Basis. We may also be required, from time to time, to measure certain other assets at fair value on a non-recurring basis in accordance with U.S. GAAP. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. The following table summarizes the fair value hierarchy used to determine each adjustment and the carrying value of the related assets at September 30, 2019 and December 31, 2018. Total losses represent the change in carrying value as a result of fair value adjustments related to assets still held at the periods indicated. At Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 September 30, 2019 Total Total Level 1 Level 2 Level 3 Gains (Losses) Gains (Losses) (In thousands) Impaired Loans $ — $ — $ 2,117 $ (380 ) $ (1,077 ) Total Assets $ — $ — $ 2,117 $ (380 ) $ (1,077 ) At Three Months Ended Nine Months Ended December 31, 2018 September 30, 2018 September 30, 2018 Total Total Level 1 Level 2 Level 3 Gains (Losses) Gains (Losses) (In thousands) Impaired Loans $ — $ — $ 1,676 $ (393 ) $ (473 ) Total Assets $ — $ — $ 1,676 $ (393 ) $ (473 ) The amount of impaired loans represents the carrying value, and net of the related write-down or valuation allowance of impaired loans for which adjustments are based on the estimated fair value of the underlying collateral. The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on real estate appraisals performed by independent licensed or certified appraisers. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Management will discount appraisals as deemed necessary based on the date of the appraisal and new information deemed relevant to the valuation. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. The resulting losses were recognized in earnings through the provision for loan losses. There were no liabilities measured at fair value on a non-recurring basis at September 30, 2019 and December 31, 2018. Summary of Fair Values of Financial Instruments. The estimated fair values of our financial instruments are as follows: September 30, 2019 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 45,399 $ 45,399 $ — $ — $ 45,399 Securities available-for-sale 231,258 — 231,258 — 231,258 Marketable equity securities 6,726 6,726 — — 6,726 Federal Home Loan Bank of Boston and other restricted stock 13,064 — — 13,064 13,064 Loans - net 1,738,310 — — 1,742,526 1,742,526 Accrued interest receivable 5,460 — — 5,460 5,460 Mortgage servicing rights 236 — 357 — 357 Derivative assets 100 — 100 — 100 Liabilities: Deposits 1,669,515 — — 1,671,665 1,671,665 Short-term borrowings 35,000 — 35,015 — 35,015 Long-term debt 205,681 — 206,034 — 206,034 Accrued interest payable 507 — — 507 507 Derivative liabilities 2,176 — 2,176 — 2,176 December 31, 2018 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 26,789 $ 26,789 $ — $ — $ 26,789 Securities available-for-sale 253,748 — 253,748 — 253,748 Marketable equity securities 6,408 6,408 — — 6,408 Federal Home Loan Bank of Boston and other restricted stock 14,695 — — 14,695 14,695 Loans - net 1,684,804 — — 1,631,558 1,631,558 Accrued interest receivable 5,652 — — 5,652 5,652 Mortgage servicing rights 286 — 456 — 456 Liabilities: Deposits 1,595,993 — — 1,592,521 1,592,521 Short-term borrowings 59,250 — 59,247 — 59,247 Long-term debt 208,018 — 206,789 — 206,789 Accrued interest payable 530 — — 530 530 Derivative liabilities 1,259 — 1,259 — 1,259

LEASES

LEASES	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
LEASES	12. LEASES The Company determines if an arrangement is a lease at inception. Effective in 2019, operating leases are included within other assets and other liabilities in our consolidated balance sheets. Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. We have not elected the practical expedient to account for lease and non-lease components as one lease component. Additionally, the Company has elected the practical expedient whereby expired leases, existing operating lease classifications and initial direct costs will not be reassessed at inception. The Company has operating leases for certain of our banking offices and ATMs. Our leases have remaining lease terms of less than one year to 19 years, some of which include options to extend the leases for additional five-year terms up to 15 years. The components of lease expense were as follows: Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 (In thousands) Amortization of ROU assets $ 244 $ 729 Interest on lease liabilities 60 184 Operating lease cost $ 304 $ 913 Supplemental cash flow information related to leases was as follows: Nine Months Ended September 30, 2019 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 878 ROU assets obtained in exchange for lease obligations: Operating leases 411 Supplemental balance sheet information related to leases was as follows: September 30, 2019 (In thousands) Operating lease ROU assets $ 6,851 Operating lease liabilities $ 6,886 The weighted average remaining lease term for our operating leases was 10.5 years with a weighted average discount rate of 3.46% at September 30, 2019. Maturities of the Company’s operating lease liabilities were as follows (in thousands): Years Ending December 31, 2019 $ 294 2020 1,100 2021 1,021 2022 987 2023 736 Thereafter 4,295 Total lease payments 8,433 Less imputed interest (1,547 ) Total $ 6,886

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2019
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	13. RECENT ACCOUNTING PRONOUNCEMENTS In February 2016, the FASB issued ASU 2016-02, Leases Leases In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses In March 2017, the FASB issued ASU 2017-08 , Receivables—Nonrefundable Fees and Other Costs Premium Amortization on Purchased Callable Debt Securities In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation The Bank’s deposits are insured up to the maximum Federal Deposit Insurance Corporation (“FDIC”) coverage limits. The Bank operates 22 banking offices in western Massachusetts and northern Connecticut, and its primary sources of revenue are interest income from loans as well as interest income from investment securities.
Wholly-owned Subsidiaries	Wholly-owned Subsidiaries
Principles of Consolidation	Principles of Consolidation
Estimates	Estimates
Basis of Presentation	Basis of Presentation. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2018, included in our Annual Report on Form 10-K for the year ended December 31, 2018 (the “2018 Annual Report”).
Reclassifications	Reclassifications.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share, Basic [Abstract]
Schedule of earnings per common share	Earnings per common share for the three and nine months ended September 30, 2019 and 2018 have been computed based on the following: Three Months Ended Nine Months Ended 2019 2018 2019 2018 (In thousands, except per share data) Net income applicable to common stock $ 3,225 $ 3,909 $ 9,913 $ 12,567 Average number of common shares issued 26,621 29,627 27,092 29,958 Less: Average unallocated ESOP Shares (656 ) (745 ) (678 ) (768 ) Less: Average unvested equity incentive plan shares (111 ) (93 ) (106 ) (90 ) Average number of common shares outstanding used to calculate basic earnings per common share 25,854 28,789 26,308 29,100 Effect of dilutive equity incentive plan 47 49 42 42 Effect of dilutive stock options 68 99 73 100 Average number of common shares outstanding used to calculate diluted earnings per common share 25,969 28,937 26,423 29,242 Basic earnings per share $ 0.12 $ 0.14 $ 0.38 $ 0.43 Diluted earnings per share $ 0.12 $ 0.14 $ 0.38 $ 0.43

COMPREHENSIVE INCOME (LOSS) (Ta

COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Schedule of accumulated other comprehensive loss included in sharesholders' equity	The components of accumulated other comprehensive loss included in shareholders’ equity are as follows: September 30, 2019 December 31, (In thousands) Net unrealized losses on securities available-for-sale $ (739 ) $ (9,891 ) Tax effect 161 2,491 Net-of-tax amount (578 ) (7,400 ) Fair value of derivatives used for cash flow hedges (2,055 ) (1,259 ) Termination fee on cancelled cash flow hedges (1,796 ) (2,595 ) Total derivatives (3,851 ) (3,854 ) Tax effect 1,083 1,084 Net-of-tax amount (2,768 ) (2,770 ) Unrecognized actuarial loss on the defined benefit plan (4,420 ) (4,516 ) Tax effect 1,242 1,270 Net-of-tax amount (3,178 ) (3,246 ) Accumulated other comprehensive loss $ (6,524 ) $ (13,416 )
Schedule of changes in accumulated other loss by component	The following table presents changes in accumulated other comprehensive loss for the periods ended September 30, 2019 and 2018 by component: Securities Derivatives Defined Benefit Plans Accumulated Other Comprehensive Loss (In thousands) Balance at December 31, 2017 $ (4,042 ) $ (4,181 ) $ (4,329 ) $ (12,552 ) Cumulative-effect adjustment due to change in accounting principle (ASU 2016-01) 237 — — 237 Current-period other comprehensive (loss) income (6,076 ) 1,611 122 (4,343 ) Balance at September 30, 2018 $ (9,881 ) $ (2,570 ) $ (4,207 ) $ (16,658 ) Balance at December 31, 2018 $ (7,400 ) $ (2,770 ) $ (3,246 ) $ (13,416 ) Cumulative-effect adjustment due to change in accounting principle (ASU 2017-08) 7 — — 7 Current-period other comprehensive income 6,815 2 68 6,885 Balance at September 30, 2019 $ (578 ) $ (2,768 ) $ (3,178 ) $ (6,524 )

SECURITIES (Tables)

SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of securities available for sale	Securities available-for-sale are summarized as follows: September 30, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Available-for-sale securities: Debt securities: Government-sponsored enterprise obligations $ 20,150 $ — $ (24 ) $ 20,126 State and municipal bonds 2,721 100 — 2,821 Corporate bonds 7,811 84 (66 ) 7,829 Total debt securities 30,682 184 (90 ) 30,776 Mortgage-backed securities: Government-sponsored mortgage-backed securities 188,866 701 (1,435 ) 188,132 U.S. government guaranteed mortgage-backed securities 12,449 89 (188 ) 12,350 Total mortgage-backed securities 201,315 790 (1,623 ) 200,482 Total available-for-sale $ 231,997 $ 974 $ (1,713 ) $ 231,258 December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Available-for-sale securities: Debt securities: Government-sponsored enterprise obligations $ 25,150 $ — $ (1,203 ) $ 23,947 State and municipal bonds 2,976 33 (65 ) 2,944 Corporate bonds 49,819 — (1,651 ) 48,168 Total debt securities 77,945 33 (2,919 ) 75,059 Mortgage-backed securities: Government-sponsored mortgage-backed securities 165,605 1 (6,255 ) 159,351 U.S. government guaranteed mortgage-backed securities 20,089 1 (752 ) 19,338 Total mortgage-backed securities 185,694 2 (7,007 ) 178,689 Total available-for-sale $ 263,639 $ 35 $ (9,926 ) $ 253,748
Schedule of amortized cost and fair value of securities available for sale by maturity	The amortized cost and fair value of available-for-sale debt securities at September 30, 2019, by final maturity, are shown below. Actual maturities may differ from contractual maturities because certain issuers have the right to call or prepay obligations. Also, because mortgage-backed securities require periodic principal paydowns, they are not included in the maturity categories in the following maturity summary. September 30, 2019 Amortized Cost Fair Value (In thousands) Available-for-sale securities: Debt securities:: Due after one year through five years $ 16,623 $ 16,623 Due after five years through ten years 7,324 7,371 Due after ten years 6,735 6,782 Total debt securities 30,682 30,776 Mortgage-backed securities 201,315 200,482 Total available-for-sale securities $ 231,997 $ 231,258
Schedule of gross realized gains and losses on sales of securities available for sale	Gross realized gains and losses on sales of securities available-for-sale for the three and nine months ended September 30, 2019 and 2018 are as follows: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (In thousands) Gross gains realized $ 49 $ — $ 148 $ — Gross losses realized — — (160 ) (250 ) Net loss realized $ 49 $ — $ (12 ) $ (250 )
Schedule of securities with gross unrealized losses in continuous loss position	Information pertaining to securities with gross unrealized losses at September 30, 2019 and December 31, 2018, aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows: September 30, 2019 Less Than 12 Months Over 12 Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In thousands) Available-for-sale: Government-sponsored mortgage-backed securities $ 128 $ 37,162 $ 1,307 $ 87,948 U.S. government guaranteed mortgage-backed securities 9 978 179 5,211 Corporate bonds — — 66 2,989 Government-sponsored enterprise obligations 12 2,488 12 1,488 Total available-for-sale $ 149 $ 40,628 $ 1,564 $ 97,636 December 31, 2018 Less Than 12 Months Over 12 Months Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value (In thousands) Available-for-sale: Government-sponsored mortgage-backed securities $ 74 $ 7,354 $ 6,181 $ 148,762 U.S. government guaranteed mortgage-backed securities 15 2,829 737 14,669 Corporate bonds 110 9,995 1,541 38,173 State and municipal bonds — — 65 1,532 Government-sponsored enterprise obligations — — 1,203 23,947 Total available-for-sale $ 199 $ 20,178 $ 9,727 $ 227,083

LOANS AND ALLOWANCE FOR LOAN _2

LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	9 Months Ended
	Sep. 30, 2019
Receivables [Abstract]
Schedule of loans	Major classifications of loans at the periods indicated were as follows: September 30, December 31, 2019 2018 (In thousands) Commercial real estate $ 821,321 $ 768,881 Residential real estate: Residential 1-4 family 580,881 577,641 Home equity 97,720 97,238 Commercial and industrial 241,732 243,493 Consumer 5,670 5,203 Total gross loans 1,747,324 1,692,456 Unearned premiums and deferred loan fees and costs, net 4,258 4,401 Allowance for loan losses (13,272 ) (12,053 ) Net loans $ 1,738,310 $ 1,684,804
Schedule of mortgage servicing rights	A summary of the activity in the balances of mortgage servicing rights follows: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 (In thousands) Balance at the beginning of period $ 253 $ 286 Capitalized mortgage servicing rights — — Amortization (17 ) (50 ) Balance at the end of period $ 236 $ 236 Fair value at the end of period $ 357 $ 357
Schedule of analysis of changes in allowance for loan losses by segment	An analysis of changes in the allowance for loan losses by segment for the nine months ended September 30, 2019 and 2018 is as follows: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) Three Months Ended Balance at June 30, 2018 $ 5,458 $ 3,529 $ 2,922 $ 92 $ (15 ) $ 11,986 Provision (credit) (389 ) 481 211 45 2 350 Charge-offs — (393 ) (30 ) (40 ) — (463 ) Recoveries 334 9 8 11 — 362 Balance at September 30, 2018 $ 5,403 $ 3,626 $ 3,111 $ 108 $ (13 ) $ 12,235 Balance at June 30, 2019 $ 5,690 $ 3,619 $ 2,960 $ 153 $ 1 $ 12,423 Provision (credit) 844 312 63 81 (25 ) 1,275 Charge-offs (200 ) (180 ) (20 ) (70 ) — (470 ) Recoveries — 26 5 13 — 44 Balance at September 30, 2019 $ 6,334 $ 3,777 $ 3,008 $ 177 $ (24 ) $ 13,272 Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) Nine Months Ended Balance at December 31, 2017 $ 4,712 $ 3,311 $ 2,733 $ 71 $ 4 $ 10,831 Provision (credit) 322 762 415 118 (17 ) 1,600 Charge-offs — (473 ) (55 ) (125 ) — (653 ) Recoveries 369 26 18 44 — 457 Balance at September 30, 2018 $ 5,403 $ 3,626 $ 3,111 $ 108 $ (13 ) $ 12,235 Balance at December 31, 2018 $ 5,260 $ 3,556 $ 3,114 $ 135 $ (12 ) $ 12,053 Provision (credit) 644 498 397 148 (12 ) 1,675 Charge-offs (419 ) (305 ) (514 ) (155 ) — (1,393 ) Recoveries 849 28 11 49 — 937 Balance at September 30, 2019 $ 6,334 $ 3,777 $ 3,008 $ 177 $ (24 ) $ 13,272
Schedule of information pertaining to the allowance for loan losses by segment	The following table presents information pertaining to the allowance for loan losses by segment for the dates indicated: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) September 30, 2019 Amount of allowance for impaired loans $ — $ — $ — $ — $ — $ — Amount of allowance for non-impaired loans 6,334 3,777 3,008 177 (24 ) 13,272 Total allowance for loan losses $ 6,334 $ 3,777 $ 3,008 $ 177 $ (24 ) $ 13,272 Impaired loans $ 4,691 $ 3,420 $ 2,190 $ 43 $ — $ 10,344 Non-impaired loans 807,031 672,323 238,713 5,627 — 1,723,694 Impaired loans acquired with deteriorated credit quality 9,599 2,858 829 — — 13,286 Total loans $ 821,321 $ 678,601 $ 241,732 $ 5,670 $ — $ 1,747,324 December 31, 2018 Amount of allowance for impaired loans $ — $ — $ — $ — $ — $ — Amount of allowance for non-impaired loans 5,260 3,556 3,114 135 (12 ) 12,053 Total allowance for loan losses $ 5,260 $ 3,556 $ 3,114 $ 135 $ (12) $ 12,053 Impaired loans $ 5,237 $ 4,754 $ 2,345 $ 60 $ — $ 12,396 Non-impaired loans 752,770 666,883 240,235 5,143 — 1,665,031 Impaired loans acquired with deteriorated credit quality 10,874 3,242 913 — — 15,029 Total loans $ 768,881 $ 674,879 $ 243,493 $ 5,203 $ — $ 1,692,456
Schedule of past due and nonaccrual loans by class	The following tables present an age analysis of past due loans as of the dates indicated: 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days or More Past Due Total Past Due Loans Total Current Loans Total Loans Non-Accrual Loans (In thousands) September 30, 2019 Commercial real estate $ 1,017 $ 1,889 $ 2,609 $ 5,515 $ 815,806 $ 821,321 $ 4,131 Residential real estate: Residential 1,829 1,004 1,143 3,976 576,905 580,881 4,258 Home equity 94 46 150 290 97,430 97,720 378 Commercial and industrial 1,637 1,624 342 3,603 238,129 241,732 2,248 Consumer 34 2 15 51 5,619 5,670 43 Total loans $ 4,611 $ 4,565 $ 4,259 $ 13,435 $ 1,733,889 $ 1,747,324 $ 11,058 December 31, 2018 Commercial real estate $ 1,857 $ — $ 2,865 $ 4,722 $ 764,159 $ 768,881 $ 4,701 Residential real estate: Residential 1,798 572 1,879 4,249 573,392 577,641 5,856 Home equity 600 5 242 847 96,391 97,238 391 Commercial and industrial 794 1,463 305 2,562 240,931 243,493 2,476 Consumer 93 1 21 115 5,088 5,203 60 Total loans $ 5,142 $ 2,041 $ 5,312 $ 12,495 $ 1,679,961 $ 1,692,456 $ 13,484
Schedule of impaired loans by class	The following is a summary of impaired loans by class: Three Months Ended Nine Months Ended At September 30, 2019 September 30, 2019 September 30, 2019 Recorded Investment Unpaid Principal Balance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Impaired Loans (1) Commercial real estate $ 14,290 $ 17,572 $ 15,558 $ 182 $ 16,542 $ 481 Residential real estate 5,875 7,200 6,375 23 6,805 87 Home equity 403 470 406 — 408 — Commercial and industrial 3,019 8,131 3,466 37 3,743 111 Consumer 43 56 45 — 50 — Total impaired loans $ 23,630 $ 33,429 $ 25,850 $ 242 $ 27,548 $ 679 Three Months Ended Nine Months Ended At December 31, 2018 September 30, 2018 September 30, 2018 Recorded Investment Unpaid Principal Balance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Impaired Loans (1) Commercial real estate $ 16,111 $ 19,081 $ 14,240 $ 186 $ 14,736 $ 558 Residential real estate 7,558 8,614 7,302 14 6,949 33 Home equity 438 468 613 1 652 3 Commercial and industrial 3,258 7,788 4,413 34 4,201 106 Consumer 60 70 78 — 93 — Total impaired loans $ 27,425 $ 36,021 $ 26,646 $ 235 $ 26,631 $ 700 (1)
Schedule of troubled debt restructurings	There were no significant loans modified in TDRs during the three and nine months ended September 30, 2018. Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (Dollars in thousands) (Dollars in thousands) Troubled Debt Restructurings Commercial Real Estate — $ — $ — 2 $ 2,032 $ 2,032 Commercial and Industrial — — — 2 383 383 Total — $ — $ — 4 $ 2,415 $ 2,415
Schedule of loans acquired with deteriorated credit quality	The following is a summary of loans acquired in the Chicopee Bancorp, Inc. (“Chicopee”) acquisition with evidence of credit deterioration as of September 30, 2019 and 2018. Contractual Required Payments Receivable Cash Expected To Be Collected Non- Accretable Discount Accretable Yield Loans Receivable (In thousands) Balance at December 31, 2018 $ 24,793 $ 19,883 $ 4,910 $ 4,854 $ 15,029 Collections (2,313 ) (2,187 ) (126 ) (487 ) (1,700 ) Dispositions (242 ) (242 ) — (199 ) (43 ) Balance at September 30, 2019 $ 22,238 $ 17,454 $ 4,784 $ 4,168 $ 13,286 Contractual Required Payments Receivable Cash Expected To Be Collected Non- Accretable Discount Accretable Yield Loans Receivable (In thousands) Balance at December 31, 2017 $ 29,362 $ 23,158 $ 6,204 $ 6,033 $ 17,125 Collections (3,370 ) (2,258 ) (1,112 ) (504 ) (1,754 ) Dispositions — — — — — Balance at September 30, 2018 $ 25,992 $ 20,900 $ 5,092 $ 5,529 $ 15,371
Schedule of loans by risk rating	The following table presents our loans by risk rating for the periods indicated: Commercial Real Estate Residential 1-4 Family Home Equity Commercial and Industrial Consumer Total (In thousands) September 30, 2019 Pass (Rated 1 – 4) $ 770,820 $ 575,352 $ 97,178 $ 210,992 $ 5,627 $ 1,659,969 Special Mention (Rated 5) 21,981 — — 4,480 — 26,461 Substandard (Rated 6) 28,520 5,529 542 26,260 43 60,894 $ 821,321 $ 580,881 $ 97,720 $ 241,732 $ 5,670 $ 1,747,324 December 31, 2018 Pass (Rated 1 – 4) $ 732,729 $ 570,428 $ 96,643 $ 207,663 $ 5,143 $ 1,612,606 Special Mention (Rated 5) 17,929 — — 12,248 — 30,177 Substandard (Rated 6) 18,223 7,213 595 23,582 60 49,673 Total $ 768,881 $ 577,641 $ 97,238 $ 243,493 $ 5,203 $ 1,692,456

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of stock option activity	A summary of stock option activity for the nine months ended September 30, 2019 is presented below: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2018 238,075 $ 6.33 3.44 $ 877 Exercised (12,550 ) 5.12 0.74 60 Outstanding at September 30, 2019 225,525 $ 6.40 2.83 $ 701 Exercisable at September 30, 2019 225,525 $ 6.40 2.83 $ 701
Schedule of original and adjusted threshold and target metrics	The original and adjusted threshold and target metrics under the 2016 LTI Plan are as follows: Return on Equity Metrics Threshold Target Original metrics 5.85 % 6.32 % Adjusted metrics 6.38 % 6.79 % The original and adjusted threshold, target and maximum metrics for 2019 under the 2017 LTI Plan are as follows: Return on Equity Metrics Performance Period Ending Original Threshold Adjusted Threshold Original Target Adjusted Target Original Maximum Adjusted Maximum December 31, 2019 6.50 % 7.09 % 7.20 % 7.85 % 7.90 % 8.61 % The threshold, target and stretch metrics under the 2018 LTI Plan are as follows: Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2019 6.85 % 7.35 % 7.75 % December 31, 2020 7.40 % 7.90 % 8.30 % The threshold, target and stretch metrics under the 2019 LTI Plan are as follows: Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2019 5.75 % 6.13 % 7.00 % December 31, 2020 6.00 % 6.75 % 7.75 % December 31, 2021 6.25 % 7.00 % 8.00 %
Schedule of the status of restricted stock awards	A summary of the status of restricted stock awards at September 30, 2019 is presented below: Shares Weighted Average Grant Date Fair Value Balance at December 31, 2018 155,712 $ 9.87 Shares granted 108,718 9.77 Shares vested (53,465 ) 8.75 Shares forfeited (1,842 ) 9.77 Balance at September 30, 2019 209,123 $ 10.11 Shares Weighted Average Grant Date Fair Value Balance at December 31, 2017 138,833 $ 8.98 Shares granted 83,812 11.05 Shares vested (32,476 ) 9.13 Balance at September 30, 2018 190,169 $ 9.87

PENSION BENEFITS (Tables)

PENSION BENEFITS (Tables)	9 Months Ended
	Sep. 30, 2019
Defined Benefit Plan [Abstract]
Schedule of net pension benefit costs	The following table provides information regarding net pension benefit costs for the periods shown: Three Months Ended Nine Months Ended, September 30, September 30, 2019 2018 2019 2018 (In thousands) Service cost $ 274 $ 304 $ 822 $ 910 Interest cost 284 253 852 759 Expected return on assets (308 ) (347 ) (924 ) (1,041 ) Actuarial loss 32 56 96 170 Net periodic pension cost $ 282 $ 266 $ 846 $ 798

DERIVATIVES AND HEDGING ACTIV_2

DERIVATIVES AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of information about cash flow hedges	The following table presents information about our cash flow hedges at September 30, 2019 and December 31, 2018: September 30, 2019 Notional Weighted Average Weighted Average Rate Estimated Amount Maturity Receive Pay Fair Value (In thousands) (In years) (In thousands) Cash flow hedges: Interest rate swaps on FHLB borrowings $ 35,000 3.0 2.12 % 3.54 % $ (2,076 ) Non-hedging derivatives: Loan-level swaps – dealer 1,996 9.9 2.08 % 3.79 % (100 ) Loan-level swaps – borrower 1,996 9.9 3.79 % 2.08 % 100 Total $ 38,992 $ (2,076 ) December 31, 2018 Notional Weighted Average Weighted Average Rate Estimated Amount Maturity Receive Pay Fair Value (In thousands) (In years) (In thousands) Cash flow hedges: Interest rate swaps on FHLB borrowings $ 35,000 3.7 2.79 % 3.54 % $ (1,259 )
Schedule of fair values of derivative financial instruments	The table below presents the fair value of our derivative financial instruments designated as hedging instruments as well as our classification on the balance sheet as of September 30, 2019 and December 31, 2018. September 30, 2019 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Derivatives designated as hedging instruments: Interest rate swaps – cash flow hedge Other Assets $ — Other Liabilities $ 2,076 Total derivatives designated as hedging instruments $ — $ 2,076 Derivatives not designated as hedging instruments: Interest rate swap – with customers $ 100 $ — Interest rate swap – with counterparties — 100 Total derivatives not designated as hedging instruments $ 100 $ 100 December 31, 2018 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Derivatives designated as hedging instruments: Interest rate swaps Other Assets $ — Other Liabilities $ 1,259
Schedule of pre-tax net losses of cash flow hedges	The table below presents the pre-tax net gains (losses) of our cash flow hedges for the periods indicated: Amount of Gain (Loss) Recognized in OCI on Derivative Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Interest rate swaps $ (142 ) $ 168 $ (1,053 ) $ 1,086 Amounts reported in accumulated other comprehensive loss related to these derivatives are reclassified to interest expense as interest payments are made on our designated rate sensitive liabilities. The table below presents the amount reclassified from accumulated other comprehensive income into net income for interest rate swaps and termination fees: Amount of Gain (Loss) Reclassified from OCI into Expense (Effective Portion) Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Interest rate swaps $ 374 $ 351 $ 1,056 $ 1,154

FAIR VALUE OF ASSETS AND LIAB_2

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on recurring basis	Assets and liabilities measured at fair value on a recurring basis are summarized below: September 30, 2019 Level 1 Level 2 Level 3 Total (In thousands) Assets: Government-sponsored mortgage-backed securities $ — $ 188,132 $ — $ 188,132 U.S. government guaranteed mortgage-backed securities — 12,350 — 12,350 Corporate bonds — 7,829 — 7,829 State and municipal bonds — 2,821 — 2,821 Government-sponsored enterprise obligations — 20,126 — 20,126 Marketable equity securities 6,726 — — 6,726 Interest rate swaps — 100 — 100 Total assets $ 6,726 $ 231,358 $ — $ 238,084 Liabilities: Interest rate swaps $ — $ 2,176 $ — $ 2,176 December 31, 2018 Level 1 Level 2 Level 3 Total (In thousands) Assets: Government-sponsored mortgage-backed securities $ — $ 159,351 $ — $ 159,351 U.S. government guaranteed mortgage-backed securities — 19,338 — 19,338 Corporate bonds — 48,168 — 48,168 State and municipal bonds — 2,944 — 2,944 Government-sponsored enterprise obligations — 23,947 — 23,947 Marketable equity securities 6,408 — — 6,408 Total assets $ 6,408 $ 253,748 $ — $ 260,156 Liabilities: Interest rate swaps $ — $ 1,259 $ — $ 1,259
Schedule of assets measured at fair value on non-recurring basis	The following table summarizes the fair value hierarchy used to determine each adjustment and the carrying value of the related assets at September 30, 2019 and December 31, 2018. Total losses represent the change in carrying value as a result of fair value adjustments related to assets still held at the periods indicated. At Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 September 30, 2019 Total Total Level 1 Level 2 Level 3 Gains (Losses) Gains (Losses) (In thousands) Impaired Loans $ — $ — $ 2,117 $ (380 ) $ (1,077 ) Total Assets $ — $ — $ 2,117 $ (380 ) $ (1,077 ) At Three Months Ended Nine Months Ended December 31, 2018 September 30, 2018 September 30, 2018 Total Total Level 1 Level 2 Level 3 Gains (Losses) Gains (Losses) (In thousands) Impaired Loans $ — $ — $ 1,676 $ (393 ) $ (473 ) Total Assets $ — $ — $ 1,676 $ (393 ) $ (473 )
Schedule of estimated fair values of financial instruments	The estimated fair values of our financial instruments are as follows: September 30, 2019 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 45,399 $ 45,399 $ — $ — $ 45,399 Securities available-for-sale 231,258 — 231,258 — 231,258 Marketable equity securities 6,726 6,726 — — 6,726 Federal Home Loan Bank of Boston and other restricted stock 13,064 — — 13,064 13,064 Loans - net 1,738,310 — — 1,742,526 1,742,526 Accrued interest receivable 5,460 — — 5,460 5,460 Mortgage servicing rights 236 — 357 — 357 Derivative assets 100 — 100 — 100 Liabilities: Deposits 1,669,515 — — 1,671,665 1,671,665 Short-term borrowings 35,000 — 35,015 — 35,015 Long-term debt 205,681 — 206,034 — 206,034 Accrued interest payable 507 — — 507 507 Derivative liabilities 2,176 — 2,176 — 2,176 December 31, 2018 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 26,789 $ 26,789 $ — $ — $ 26,789 Securities available-for-sale 253,748 — 253,748 — 253,748 Marketable equity securities 6,408 6,408 — — 6,408 Federal Home Loan Bank of Boston and other restricted stock 14,695 — — 14,695 14,695 Loans - net 1,684,804 — — 1,631,558 1,631,558 Accrued interest receivable 5,652 — — 5,652 5,652 Mortgage servicing rights 286 — 456 — 456 Liabilities: Deposits 1,595,993 — — 1,592,521 1,592,521 Short-term borrowings 59,250 — 59,247 — 59,247 Long-term debt 208,018 — 206,789 — 206,789 Accrued interest payable 530 — — 530 530 Derivative liabilities 1,259 — 1,259 — 1,259

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of lease expense	The components of lease expense were as follows: Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 (In thousands) Amortization of ROU assets $ 244 $ 729 Interest on lease liabilities 60 184 Operating lease cost $ 304 $ 913
Schedule of supplemental information related to leases	Supplemental cash flow information related to leases was as follows: Nine Months Ended September 30, 2019 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 878 ROU assets obtained in exchange for lease obligations: Operating leases 411 Supplemental balance sheet information related to leases was as follows: September 30, 2019 (In thousands) Operating lease ROU assets $ 6,851 Operating lease liabilities $ 6,886
Schedule of maturities of operating lease liabilities	Maturities of the Company’s operating lease liabilities were as follows (in thousands): Years Ending December 31, 2019 $ 294 2020 1,100 2021 1,021 2022 987 2023 736 Thereafter 4,295 Total lease payments 8,433 Less imputed interest (1,547 ) Total $ 6,886

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Sep. 30, 2019Number
Massachusetts and Granby and Enfield, Connecticut [Member]
Number of banking offices in which bank operates	22

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings per common share:
Net income applicable to common stock	$ 3,225	$ 3,909	$ 9,913	$ 12,567
Average number of common shares issued	26,621,000	29,627,000	27,092,000	29,958,000
Less: Average unallocated ESOP Shares	(656,000)	(745,000)	(678,000)	(768,000)
Less: Average unvested equity incentive plan shares	(111,000)	(93,000)	(106,000)	(90,000)
Average number of common shares outstanding used to calculate basic earnings per common share	25,854,040	28,789,132	26,308,580	29,100,735
Effect of dilutive equity incentive plan	47,000	49,000	42,000	42,000
Effect of dilutive stock options	68,000	99,000	73,000	100,000
Average number of common shares outstanding used to calculate diluted earnings per common share	25,969,365	28,937,038	26,423,229	29,242,862
Basic earnings per share (in dollars per share)	$ 0.12	$ 0.14	$ 0.38	$ 0.43
Diluted earnings per share (in dollars per share)	$ 0.12	$ 0.14	$ 0.38	$ 0.43

COMPREHENSIVE INCOME (LOSS) (De

COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, net of tax amount	$ (6,524)	$ (13,416)	$ (16,658)	$ (12,552)
Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, before tax	(739)	(9,891)
Tax effect	161	2,491
Accumulated other comprehensive loss, net of tax amount	(578)	(7,400)	(9,881)	(4,042)
Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Fair value of derivatives used for cash flow hegdes	(2,055)	(1,259)
Derivative Termination fee on cancelled cash flow hedges	(1,796)	(2,595)
Accumulated other comprehensive loss, before tax	(3,851)	(3,854)
Tax effect	1,083	1,084
Accumulated other comprehensive loss, net of tax amount	(2,768)	(2,770)	(2,570)	(4,181)
Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, before tax	(4,420)	(4,516)
Tax effect	1,242	1,270
Accumulated other comprehensive loss, net of tax amount	$ (3,178)	$ (3,246)	$ (4,207)	$ (4,329)

COMPREHENSIVE INCOME (LOSS) (_2

COMPREHENSIVE INCOME (LOSS) (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			$ (13,416)	$ (12,552)
Cumulative-effect adjustment due to change in accounting principle			7	237
Current-period other comprehensive (loss) income	$ 1,229	$ (817)	6,885	(4,343)
Ending balance	(6,524)	(16,658)	(6,524)	(16,658)
Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(7,400)	(4,042)
Cumulative-effect adjustment due to change in accounting principle			7	237
Current-period other comprehensive (loss) income			6,815	(6,076)
Ending balance	(578)	(9,881)	(578)	(9,881)
Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(2,770)	(4,181)
Current-period other comprehensive (loss) income			2	1,611
Ending balance	(2,768)	(2,570)	(2,768)	(2,570)
Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(3,246)	(4,329)
Current-period other comprehensive (loss) income			68	122
Ending balance	$ (3,178)	$ (4,207)	$ (3,178)	$ (4,207)

SECURITIES (Details)

SECURITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Available-for-sale securities:
Amortized Cost	$ 231,997	$ 263,639
Gross Unrealized Gains	974	35
Gross Unrealized Losses	(1,713)	(9,926)
Fair Value	231,258	253,748
Government-Sponsored Enterprise Obligations [Member]
Available-for-sale securities:
Amortized Cost	20,150	25,150
Gross Unrealized Losses	(24)	(1,203)
Fair Value	20,126	23,947
State And Municipal Bonds [Member]
Available-for-sale securities:
Amortized Cost	2,721	2,976
Gross Unrealized Gains	100	33
Gross Unrealized Losses		(65)
Fair Value	2,821	2,944
Corporate Bonds [Member]
Available-for-sale securities:
Amortized Cost	7,811	49,819
Gross Unrealized Gains	84
Gross Unrealized Losses	(66)	(1,651)
Fair Value	7,829	48,168
Debt Securities [Member]
Available-for-sale securities:
Amortized Cost	30,682	77,945
Gross Unrealized Gains	184	33
Gross Unrealized Losses	(90)	(2,919)
Fair Value	30,776	75,059
Government-Sponsored Mortgage-Backed Securities [Member]
Available-for-sale securities:
Amortized Cost	188,866	165,605
Gross Unrealized Gains	701	1
Gross Unrealized Losses	(1,435)	(6,255)
Fair Value	188,132	159,351
US Government Guaranteed Mortgage-Backed Securities [Member]
Available-for-sale securities:
Amortized Cost	12,449	20,089
Gross Unrealized Gains	89	1
Gross Unrealized Losses	(188)	(752)
Fair Value	12,350	19,338
Collateralized Mortgage Backed Securities [Member]
Available-for-sale securities:
Amortized Cost	201,315	185,694
Gross Unrealized Gains	790	2
Gross Unrealized Losses	(1,623)	(7,007)
Fair Value	$ 200,482	$ 178,689

SECURITIES (Details 1)

SECURITIES (Details 1) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Schedule of Investments [Line Items]
Available for Sale Securities, Amortized Cost, Total	$ 231,997	$ 263,639
Available for Sale Securities, Fair Value, Total	231,258
Debt Securities [Member]
Schedule of Investments [Line Items]
Available for Sale Securities, Amortized Cost, Due after one year through five years	16,623
Available for Sale Securities, Amortized Cost, Due after five years through ten years	7,324
Available for Sale Securities, Amortized Cost, Due after ten years	6,735
Available for Sale Securities, Amortized Cost, Total	30,682
Available for Sale Securities, Fair Value, Due after one year through five years	16,623
Available for Sale Securities, Fair Value, Due after five years through ten years	7,371
Available for Sale Securities, Fair Value, Due after ten years	6,782
Available for Sale Securities, Fair Value, Total	30,776
Collateralized Mortgage Backed Securities [Member]
Schedule of Investments [Line Items]
Available for Sale Securities, Amortized Cost, Total	201,315	$ 185,694
Available for Sale Securities, Fair Value, Total	$ 200,482

SECURITIES (Details 2)

SECURITIES (Details 2) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Gross gains realized	$ 49	$ 148
Gross losses realized		(160)	$ (250)
Net loss realized	$ 49	$ (12)	$ (250)

SECURITIES (Details 3)

SECURITIES (Details 3) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Available for sale, Less Than 12 Months Gross Unrealized Losses	$ 149	$ 199
Available for sale, Less Than 12 Months Fair Value	40,628	20,178
Available for sale, Over 12 Months Gross Unrealized Losses	1,564	9,727
Available for sale, Over 12 Months Fair Value	97,636	227,083
Government-Sponsored Mortgage-Backed Securities [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	128	74
Available for sale, Less Than 12 Months Fair Value	37,162	7,354
Available for sale, Over 12 Months Gross Unrealized Losses	1,307	6,181
Available for sale, Over 12 Months Fair Value	87,948	148,762
US Government Guaranteed Mortgage-Backed Securities [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	9	15
Available for sale, Less Than 12 Months Fair Value	978	2,829
Available for sale, Over 12 Months Gross Unrealized Losses	179	737
Available for sale, Over 12 Months Fair Value	5,211	14,669
Corporate Bonds [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses		110
Available for sale, Less Than 12 Months Fair Value		9,995
Available for sale, Over 12 Months Gross Unrealized Losses	66	1,541
Available for sale, Over 12 Months Fair Value	2,989	38,173
States and Municipal Bonds [Member]
Available for sale, Over 12 Months Gross Unrealized Losses		65
Available for sale, Over 12 Months Fair Value		1,532
Government-Sponsored Enterprise Obligations [Member]
Available for sale, Less Than 12 Months Gross Unrealized Losses	12
Available for sale, Less Than 12 Months Fair Value	2,488
Available for sale, Over 12 Months Gross Unrealized Losses	12	1,203
Available for sale, Over 12 Months Fair Value	$ 1,488	$ 23,947

SECURITIES (Details Narrative)

SECURITIES (Details Narrative) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cumulative-effect adjustment due to change in accounting principle	$ 7	$ 237
Proceeds from redemptions and sales	57,418	12,501
Government-Sponsored Enterprise Obligations [Member]
Fair value of collateralized public deposits	7,000
Collateralized Mortgage Backed Securities [Member]
Fair value of collateralized public deposits	53,100
Securities [Member]
Cumulative-effect adjustment due to change in accounting principle	7	$ 237
Securities [Member] | Accounting Standards Update (ASU) 2017-08 [Member]
Cumulative-effect adjustment due to change in accounting principle	$ 7

LOANS AND ALLOWANCE FOR LOAN _3

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	$ 1,747,324		$ 1,692,456
Unearned premiums and deferred loan fees and costs, net	4,258		4,401
Allowance for loan losses	(13,272)	$ (12,423)	(12,053)	$ (12,235)	$ (11,986)	$ (10,831)
Net loans	1,738,310		1,684,804
Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	821,321		768,881
Allowance for loan losses	(6,334)	(5,690)	(5,260)	(5,403)	(5,458)	(4,712)
Residential Real Estate - Residential 1-4 Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	580,881		577,641
Residential Real Estate - Home Equity [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	97,720		97,238
Commercial And Industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	241,732		243,493
Allowance for loan losses	(3,008)	(2,960)	(3,114)	(3,111)	(2,922)	(2,733)
Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	5,670		5,203
Allowance for loan losses	$ (177)	$ (153)	$ (135)	$ (108)	$ (92)	$ (71)

LOANS AND ALLOWANCE FOR LOAN _4

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 1) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Servicing Asset
Balance at the beginning of period:	$ 253	$ 286
Amortization	(17)	(50)
Balance at the end of period	236	236
Fair value at the end of period	$ 357	$ 357

LOANS AND ALLOWANCE FOR LOAN _5

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Balance at beginning	$ 12,423	$ 11,986	$ 12,053	$ 10,831
Provision (credit)	1,275	350	1,675	1,600
Charge-offs	(470)	(463)	(1,393)	(653)
Recoveries	44	362	937	457
Balance at end	13,272	12,235	13,272	12,235
Commercial Real Estate [Member]
Balance at beginning	5,690	5,458	5,260	4,712
Provision (credit)	844	(389)	644	322
Charge-offs	(200)		(419)
Recoveries		334	849	369
Balance at end	6,334	5,403	6,334	5,403
Residential Real Estate [Member]
Balance at beginning	3,619	3,529	3,556	3,311
Provision (credit)	312	481	498	762
Charge-offs	(180)	(393)	(305)	(473)
Recoveries	26	9	28	26
Balance at end	3,777	3,626	3,777	3,626
Commercial And Industrial [Member]
Balance at beginning	2,960	2,922	3,114	2,733
Provision (credit)	63	211	397	415
Charge-offs	(20)	(30)	(514)	(55)
Recoveries	5	8	11	18
Balance at end	3,008	3,111	3,008	3,111
Consumer [Member]
Balance at beginning	153	92	135	71
Provision (credit)	81	45	148	118
Charge-offs	(70)	(40)	(155)	(125)
Recoveries	13	11	49	44
Balance at end	177	108	177	108
Unallocated [Member]
Balance at beginning	1	(15)	(12)	4
Provision (credit)	(25)	2	(12)	(17)
Balance at end	$ (24)	$ (13)	$ (24)	$ (13)

LOANS AND ALLOWANCE FOR LOAN _6

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 3) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Amount of allowance for non-impaired loans	$ 13,272		$ 12,053
Total allowance for loan losses	13,272	$ 12,423	12,053	$ 12,235	$ 11,986	$ 10,831
Impaired loans	10,344		12,396
Non-impaired loans	1,723,694		1,665,031
Impaired loans acquired with deteriorated credit quality	13,286		15,029
Total loans	1,747,324		1,692,456
Commercial Real Estate [Member]
Amount of allowance for non-impaired loans	6,334		5,260
Total allowance for loan losses	6,334	5,690	5,260	5,403	5,458	4,712
Impaired loans	4,691		5,237
Non-impaired loans	807,031		752,770
Impaired loans acquired with deteriorated credit quality	9,599		10,874
Total loans	821,321		768,881
Residential Real Estate [Member]
Amount of allowance for non-impaired loans	3,777		3,556
Total allowance for loan losses	3,777	3,619	3,556	3,626	3,529	3,311
Impaired loans	3,420		4,754
Non-impaired loans	672,323		666,883
Impaired loans acquired with deteriorated credit quality	2,858		3,242
Total loans	678,601		674,879
Commercial And Industrial [Member]
Amount of allowance for non-impaired loans	3,008		3,114
Total allowance for loan losses	3,008	2,960	3,114	3,111	2,922	2,733
Impaired loans	2,190		2,345
Non-impaired loans	238,713		240,235
Impaired loans acquired with deteriorated credit quality	829		913
Total loans	241,732		243,493
Consumer [Member]
Amount of allowance for non-impaired loans	177		135
Total allowance for loan losses	177	153	135	108	92	71
Impaired loans	43		60
Non-impaired loans	5,627		5,143
Total loans	5,670		5,203
Unallocated [Member]
Amount of allowance for non-impaired loans	(24)		(12)
Total allowance for loan losses	$ (24)	$ 1	$ (12)	$ (13)	$ (15)	$ 4

LOANS AND ALLOWANCE FOR LOAN _7

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 4) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Total Past Due Loans	$ 13,435	$ 12,495
Total Current Loans	1,733,889	1,679,961
Total loans	1,747,324	1,692,456
Non-Accrual Loans	11,058	13,484
30-59 Days Past Due [Member]
Total Past Due Loans	4,611	5,142
60 - 89 Days Past Due [Member]
Total Past Due Loans	4,565	2,041
Greater than 90 Days Past Due [Member]
Total Past Due Loans	4,259	5,312
Commercial Real Estate [Member]
Total Past Due Loans	5,515	4,722
Total Current Loans	815,806	764,159
Total loans	821,321	768,881
Non-Accrual Loans	4,131	4,701
Commercial Real Estate [Member] | 30-59 Days Past Due [Member]
Total Past Due Loans	1,017	1,857
Commercial Real Estate [Member] | 60 - 89 Days Past Due [Member]
Total Past Due Loans	1,889
Commercial Real Estate [Member] | Greater than 90 Days Past Due [Member]
Total Past Due Loans	2,609	2,865
Residential Real Estate - Residential 1-4 Family [Member]
Total Past Due Loans	3,976	4,249
Total Current Loans	576,905	573,392
Total loans	580,881	577,641
Non-Accrual Loans	4,258	5,856
Residential Real Estate - Residential 1-4 Family [Member] | 30-59 Days Past Due [Member]
Total Past Due Loans	1,829	1,798
Residential Real Estate - Residential 1-4 Family [Member] | 60 - 89 Days Past Due [Member]
Total Past Due Loans	1,004	572
Residential Real Estate - Residential 1-4 Family [Member] | Greater than 90 Days Past Due [Member]
Total Past Due Loans	1,143	1,879
Residential Real Estate - Home Equity [Member]
Total Past Due Loans	290	847
Total Current Loans	97,430	96,391
Total loans	97,720	97,238
Non-Accrual Loans	378	391
Residential Real Estate - Home Equity [Member] | 30-59 Days Past Due [Member]
Total Past Due Loans	94	600
Residential Real Estate - Home Equity [Member] | 60 - 89 Days Past Due [Member]
Total Past Due Loans	46	5
Residential Real Estate - Home Equity [Member] | Greater than 90 Days Past Due [Member]
Total Past Due Loans	150	242
Commercial And Industrial [Member]
Total Past Due Loans	3,603	2,562
Total Current Loans	238,129	240,931
Total loans	241,732	243,493
Non-Accrual Loans	2,248	2,476
Commercial And Industrial [Member] | 30-59 Days Past Due [Member]
Total Past Due Loans	1,637	794
Commercial And Industrial [Member] | 60 - 89 Days Past Due [Member]
Total Past Due Loans	1,624	1,463
Commercial And Industrial [Member] | Greater than 90 Days Past Due [Member]
Total Past Due Loans	342	305
Consumer [Member]
Total Past Due Loans	51	115
Total Current Loans	5,619	5,088
Total loans	5,670	5,203
Non-Accrual Loans	43	60
Consumer [Member] | 30-59 Days Past Due [Member]
Total Past Due Loans	34	93
Consumer [Member] | 60 - 89 Days Past Due [Member]
Total Past Due Loans	2	1
Consumer [Member] | Greater than 90 Days Past Due [Member]
Total Past Due Loans	$ 15	$ 21

LOANS AND ALLOWANCE FOR LOAN _8

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 5) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Total Impaired loans:
Recorded Investment	[1]	$ 23,630		$ 23,630		$ 27,425
Unpaid Principal Balance	[1]	33,429		33,429		36,021
Average Recorded Investment	[1]	25,850	$ 26,646	27,548	$ 26,631
Interest Income Recognized	[1]	242	235	679	700
Commercial Real Estate [Member]
Total Impaired loans:
Recorded Investment	[1]	14,290		14,290		16,111
Unpaid Principal Balance	[1]	17,572		17,572		19,081
Average Recorded Investment	[1]	15,558	14,240	16,542	14,736
Interest Income Recognized	[1]	182	186	481	558
Residential Real Estate [Member]
Total Impaired loans:
Recorded Investment	[1]	5,875		5,875		7,558
Unpaid Principal Balance	[1]	7,200		7,200		8,614
Average Recorded Investment	[1]	6,375	7,302	6,805	6,949
Interest Income Recognized	[1]	23	14	87	33
Residential Real Estate - Home Equity [Member]
Total Impaired loans:
Recorded Investment	[1]	403		403		438
Unpaid Principal Balance	[1]	470		470		468
Average Recorded Investment	[1]	406	613	408	652
Interest Income Recognized	[1]		1		3
Commercial And Industrial [Member]
Total Impaired loans:
Recorded Investment	[1]	3,019		3,019		3,258
Unpaid Principal Balance	[1]	8,131		8,131		7,788
Average Recorded Investment	[1]	3,466	4,413	3,743	4,201
Interest Income Recognized	[1]	37	34	111	106
Consumer [Member]
Total Impaired loans:
Recorded Investment	[1]	43		43		60
Unpaid Principal Balance	[1]	56		56		$ 70
Average Recorded Investment	[1]	$ 45	$ 78	$ 50	$ 93
[1]	Includes loans acquired with deteriorated credit quality and performing troubled debt restructurings.

LOANS AND ALLOWANCE FOR LOAN _9

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 6) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)Number
Troubled Debt Restructurings:
Number of Contracts | Number	4
Pre-Modification Outstanding Recorded Investment	$ 2,415
Post-Modification Outstanding Recorded Investment	$ 2,415
Commercial Real Estate [Member]
Troubled Debt Restructurings:
Number of Contracts | Number	2
Pre-Modification Outstanding Recorded Investment	$ 2,032
Post-Modification Outstanding Recorded Investment	$ 2,032
Commercial And Industrial [Member]
Troubled Debt Restructurings:
Number of Contracts | Number	2
Pre-Modification Outstanding Recorded Investment	$ 383
Post-Modification Outstanding Recorded Investment	$ 383

LOANS AND ALLOWANCE FOR LOAN_10

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 7) - Chicopee Bancorp Inc [Member] - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Loans receivable - Contractual Required Payments Receivable beginning	$ 24,793	$ 29,362
Collections - Contractually Required Payments Receivable	(2,313)	(3,370)
Dispositions - Contractually Required Payments Receivable	(242)
Loans receivable - Contractual Required Payments Receivable ending	22,238	25,992
Loans receivable - Cash Expected To Be Collected beginning	19,883	23,158
Collections - Cash Expected to be Collected	(2,187)	(2,258)
Dispositions - Cash Expected to be Collected	(242)
Loans receivable - Cash Expected To Be Collected ending	17,454	20,900
Loans receivable - Non-Accretable Discount beginning	4,910	6,204
Collections - Non-Accretable DIscount	(126)	(1,112)
Loans receivable - Non-Accretable Discount ending	4,784	5,092
Loans receivable - Accretable Yield beginning	4,854	6,033
Collections - Accretable Yield	(487)	(504)
Dispositions - Accretable Yield	(199)
Loans receivable - Accretable Yield ending	4,168	5,529
Loans receivable - Outstanding beginning	15,029	17,125
Collections	(1,700)	(1,754)
Dispositions	(43)
Loans receivable - Outstanding ending	$ 13,286	$ 15,371

LOANS AND ALLOWANCE FOR LOAN_11

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 8) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	$ 1,747,324	$ 1,692,456
Pass (Rated 1 - 4) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,659,969	1,612,606
Special Mention (Rated 5) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	26,461	30,177
Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	60,894	49,673
Commercial Real Estate [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	821,321	768,881
Commercial Real Estate [Member] | Loans rated 1-4 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	770,820	732,729
Commercial Real Estate [Member] | Special Mention (Rated 5) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	21,981	17,929
Commercial Real Estate [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	28,520	18,223
Residential Real Estate - Residential 1-4 Family [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	580,881	577,641
Residential Real Estate - Residential 1-4 Family [Member] | Loans rated 1-4 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	575,352	570,428
Residential Real Estate - Residential 1-4 Family [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	5,529	7,213
Residential Real Estate - Home Equity [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	97,720	97,238
Residential Real Estate - Home Equity [Member] | Loans rated 1-4 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	97,178	96,643
Residential Real Estate - Home Equity [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	542	595
Commercial And Industrial [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	241,732	243,493
Commercial And Industrial [Member] | Loans rated 1-4 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	210,992	207,663
Commercial And Industrial [Member] | Special Mention (Rated 5) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	4,480	12,248
Commercial And Industrial [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	26,260	23,582
Consumer [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	5,670	5,203
Consumer [Member] | Loans rated 1-4 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	5,627	5,143
Consumer [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	$ 43	$ 60

LOANS AND ALLOWANCE FOR LOAN_12

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details Narrative) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)$ / Loans	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Serviced commercial loans for participants	$ 32,200		$ 35,400
Mortgage loans serviced for others	50,700		$ 56,600
Net service fee income	$ 52	$ 68
Weighted average internal rate of return	12.05%
Weighted average servicing fee	0.25%
Net cost to service loans | $ / Loans	83.53
Troubled debt restructuring	$ 2,415
Charge-offs on TDRs	715
Loan Relationship 1 [Member]
Troubled debt restructuring	2,200
Loan Relationship 2 [Member]
Troubled debt restructuring	$ 166

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2016	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Amortization of core deposit intangible		$ 94	$ 94	$ 282	$ 282
Core Deposit Intangibles [Member]
Acquired core deposit intangible	$ 4,500
Amortized period of core deposit intangible	12 years
Future amortization of core deposit intangible assets years 1-5		375		375
Future amortization of core deposit intangible assets thereafter		$ 1,500		$ 1,500

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - Stock Options [Member] $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Options, Outstanding
Outstanding at beginning of period | shares	238,075
Exercised | shares	(12,550)
Outstanding at end of period | shares	225,525
Exercisable at end of period | shares	225,525
Options, Outstanding, Weighted Average Exercise Price
Outstanding at beginning of period | $ / shares	$ 6.33
Exercised | $ / shares	5.12
Outstanding at end of period | $ / shares	6.40
Exercisable at end of period | $ / shares	$ 6.40
Options, Outstanding, Weighted Average Remaining Contractual Term (in years)
Outstanding at beginning of period	3 years 5 months 8 days
Exercised	8 months 26 days
Outstanding at end of period	2 years 9 months 29 days
Exercisable at end of period	2 years 9 months 29 days
Options, Outstanding, Aggregate Intrinsic Value
Outstanding at beginning of period | $	$ 877
Exercised | $	60
Outstanding at end of period | $	701
Exercisable at end of period | $	$ 701

SHARE-BASED COMPENSATION (Det_2

SHARE-BASED COMPENSATION (Details 1)	9 Months Ended
	Sep. 30, 2019
LTI Plan for 2016 [Member] | Original Threshold [Member]
Original metrics	5.85%
Adjusted metrics	6.38%
LTI Plan for 2016 [Member] | Original Target [Member]
Original metrics	6.32%
Adjusted metrics	6.79%
LTI Plan for 2017 [Member] | Original Maximum [Member]
December 31, 2019	7.90%
LTI Plan for 2017 [Member] | Original Threshold [Member]
December 31, 2019	6.50%
LTI Plan for 2017 [Member] | Original Target [Member]
December 31, 2019	7.20%
LTI Plan for 2017 [Member] | Adjusted Threshold [Member]
December 31, 2019	7.09%
LTI Plan for 2017 [Member] | Adjusted Target [Member]
December 31, 2019	7.85%
LTI Plan for 2017 [Member] | Adjusted Maximum [Member]
December 31, 2019	8.61%
LTI Plan for 2018 [Member] | Original Threshold [Member]
December 31, 2019	6.85%
December 31, 2020	7.40%
LTI Plan for 2018 [Member] | Original Target [Member]
December 31, 2019	7.35%
December 31, 2020	7.90%
LTI Plan for 2018 [Member] | Stretch [Member]
December 31, 2019	7.75%
December 31, 2020	8.30%
LTI Plan for 2019 [Member] | Original Threshold [Member]
December 31, 2019	5.75%
December 31, 2020	6.00%
December 31, 2021	6.25%
LTI Plan for 2019 [Member] | Original Target [Member]
December 31, 2019	6.13%
December 31, 2020	6.75%
December 31, 2021	7.00%
LTI Plan for 2019 [Member] | Stretch [Member]
December 31, 2019	7.00%
December 31, 2020	7.75%
December 31, 2021	8.00%

SHARE-BASED COMPENSATION (Det_3

SHARE-BASED COMPENSATION (Details 2) - Restricted Stock [Member] - $ / shares	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Restricted Stock Awards
Beginning balance	155,712	138,833
Shares granted	108,718	83,812
Shares vested	(53,465)	(32,476)
Shares forfeited	(1,842)
Ending balance	209,123	190,169
Weighted Average Grant Date Fair Value
Beginning balance	$ 9.87	$ 8.98
Shares granted	9.77	11.05
Shares vested	8.75	9.13
Shares forfeited	9.77
Ending balance	$ 10.11	$ 9.87

SHARE-BASED COMPENSATION (Det_4

SHARE-BASED COMPENSATION (Details Narrative) - USD ($) $ in Thousands	1 Months Ended					9 Months Ended		12 Months Ended
	Feb. 28, 2019	Jan. 31, 2018	May 31, 2017	May 31, 2016	Jan. 31, 2015	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	May 31, 2014
Stock Options
Cash received for options exercised						$ 64	$ 114
Restricted Stock Awards
Share-based compensation expense						$ 580	$ 707
RSA Plan [Member]
Restricted Stock Awards
Share based compensation, shares available for grant						129,177
LTI Plan for 2016 [Member]
Restricted Stock Awards
Shares granted				62,740
Shares vested	26,197
Return on equity								6.82%
LTI Plan for 2017 [Member]
Restricted Stock Awards
Shares granted			89,042
LTI Plan for 2018 [Member]
Restricted Stock Awards
Shares granted		83,812
LTI Plan for 2019 [Member]
Restricted Stock Awards
Shares granted	108,718
New Stock-Based Compensation Plan ("RSA Plan") [Member]
Restricted Stock Awards
Shares authorized									516,000
Shares granted					48,560
Vesting term					5 years
Time Based Shares [Member] | LTI Plan for 2016 [Member]
Restricted Stock Awards
Shares granted				36,543
Percent of awards under plan						50.00%
Time Based Shares [Member] | LTI Plan for 2016 [Member] | Award, Tranche One [Member]
Restricted Stock Awards
Shares granted				10,352
Vesting term				1 year
Time Based Shares [Member] | LTI Plan for 2016 [Member] | Award, Tranche Two [Member]
Restricted Stock Awards
Shares granted				26,191
Vesting term				3 years
Time Based Shares [Member] | LTI Plan for 2017 [Member]
Restricted Stock Awards
Shares granted			55,159
Time Based Shares [Member] | LTI Plan for 2017 [Member] | Award, Tranche One [Member]
Restricted Stock Awards
Shares granted			21,276
Vesting term			1 year
Time Based Shares [Member] | LTI Plan for 2017 [Member] | Award, Tranche Two [Member]
Restricted Stock Awards
Shares granted			33,883
Vesting term			3 years
Time Based Shares [Member] | LTI Plan for 2018 [Member]
Restricted Stock Awards
Shares granted		50,852
Time Based Shares [Member] | LTI Plan for 2018 [Member] | Award, Tranche One [Member]
Restricted Stock Awards
Shares granted		17,908
Vesting term		1 year
Time Based Shares [Member] | LTI Plan for 2018 [Member] | Award, Tranche Two [Member]
Restricted Stock Awards
Shares granted		32,944
Vesting term		3 years
Time Based Shares [Member] | LTI Plan for 2019 [Member]
Restricted Stock Awards
Shares granted	64,496
Time Based Shares [Member] | LTI Plan for 2019 [Member] | Award, Tranche One [Member]
Restricted Stock Awards
Shares granted	20,262
Vesting term	1 year
Time Based Shares [Member] | LTI Plan for 2019 [Member] | Award, Tranche Two [Member]
Restricted Stock Awards
Shares granted	44,234
Vesting term	3 years
Performance Shares [Member] | LTI Plan for 2016 [Member]
Restricted Stock Awards
Shares granted				26,197
Vesting term				3 years
Percent of awards under plan						50.00%
Performance Shares [Member] | LTI Plan for 2017 [Member]
Restricted Stock Awards
Shares granted			33,883
Vesting term			3 years
Performance Shares [Member] | LTI Plan for 2017 [Member] | Original Maximum [Member]
Restricted Stock Awards
Percent of awards participants may earn			150.00%
Performance Shares [Member] | LTI Plan for 2017 [Member] | Original Threshold [Member]
Restricted Stock Awards
Percent of awards participants may earn			50.00%
Performance Shares [Member] | LTI Plan for 2017 [Member] | Original Target [Member]
Restricted Stock Awards
Percent of awards participants may earn			100.00%
Performance Shares [Member] | LTI Plan for 2018 [Member]
Restricted Stock Awards
Shares granted		32,960
Vesting term		3 years
Performance Shares [Member] | LTI Plan for 2018 [Member] | Original Maximum [Member]
Restricted Stock Awards
Percent of awards participants may earn		150.00%
Performance Shares [Member] | LTI Plan for 2018 [Member] | Original Threshold [Member]
Restricted Stock Awards
Percent of awards participants may earn		50.00%
Performance Shares [Member] | LTI Plan for 2018 [Member] | Original Target [Member]
Restricted Stock Awards
Percent of awards participants may earn		100.00%
Performance Shares [Member] | LTI Plan for 2019 [Member]
Restricted Stock Awards
Shares granted	44,222
Vesting term	3 years
Performance Shares [Member] | LTI Plan for 2019 [Member] | Original Maximum [Member]
Restricted Stock Awards
Percent of awards participants may earn	150.00%
Performance Shares [Member] | LTI Plan for 2019 [Member] | Original Threshold [Member]
Restricted Stock Awards
Percent of awards participants may earn	50.00%
Performance Shares [Member] | LTI Plan for 2019 [Member] | Original Target [Member]
Restricted Stock Awards
Percent of awards participants may earn	100.00%

SHORT-TERM BORROWINGS AND LON_2

SHORT-TERM BORROWINGS AND LONG-TERM DEBT (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Long-term debt	$ 205,681	$ 208,018
FHLBB Ideal Way Line of Credit [Member]
Line of credit available	9,500	9,500
Correspondent Bank [Member]
Line of credit available	50,000	50,000
Correspondent Bank [Member]
Line of credit available	$ 15,000	$ 15,000
FHLBB Advances [Member]
Weighted average rate	2.26%	3.28%
Short-term borrowings	$ 35,000	$ 59,300
Long-term debt	205,700	$ 208,000
FHLBB Advances [Member] | Maximum [Member]
Borrowing capacity	$ 232,700

PENSION BENEFITS (Details)

PENSION BENEFITS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Defined Benefit Plan [Abstract]
Service cost	$ 274	$ 304	$ 822	$ 910
Interest cost	284	253	852	759
Expected return on assets	(308)	(347)	(924)	(1,041)
Actuarial loss	32	56	96	170
Net periodic pension cost	$ 282	$ 266	$ 846	$ 798

PENSION BENEFITS (Details Narra

PENSION BENEFITS (Details Narrative)	9 Months Ended
	Sep. 30, 2019Number
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Minimum working hours needed for eligibility	1,000

DERIVATIVES AND HEDGING ACTIV_3

DERIVATIVES AND HEDGING ACTIVITIES (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Notional Amount	$ 38,992
Estimated Fair Value	(2,076)
Non-Hedging Derivatives [Member]
Notional Amount	4,000
Loan-Level Swaps - Dealer [Member] | Non-Hedging Derivatives [Member]
Notional Amount	$ 1,996
Weighted Average Maturity	9 years 10 months 24 days
Weighted Average Rate Received	2.08%
Weighted Average Rate Paid	3.79%
Estimated Fair Value	$ (100)
Loan-Level Swaps - Borrower [Member] | Non-Hedging Derivatives [Member]
Notional Amount	$ 1,996
Weighted Average Maturity	9 years 10 months 24 days
Weighted Average Rate Received	3.79%
Weighted Average Rate Paid	2.08%
Estimated Fair Value	$ 100
Cash Flow Hedging [Member] | Interest Rate Swap Agreement [Member]
Notional Amount	$ 35,000	$ 35,000
Weighted Average Maturity	3 years	3 years 8 months 12 days
Weighted Average Rate Received	2.12%	2.79%
Weighted Average Rate Paid	3.54%	3.54%
Estimated Fair Value	$ (2,076)	$ (1,259)

DERIVATIVES AND HEDGING ACTIV_4

DERIVATIVES AND HEDGING ACTIVITIES (Details 1) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Designated as Hedging Instrument [Member]
Fair value of derivative liability	$ 2,076
Designated as Hedging Instrument [Member] | Interest Rate Swap Agreement [Member] | Other Liabilities [Member]
Fair value of derivative liability		$ 1,259
Designated as Hedging Instrument [Member] | Interest Rate Swap Agreement [Member] | Derivatives Designated As Cash Flow Hedges [Member] | Other Liabilities [Member]
Fair value of derivative liability	2,076
Non-Hedging Derivatives [Member]
Fair value of derivative assets	100
Fair value of derivative liability	100
Non-Hedging Derivatives [Member] | Interest Rate Swap Agreement [Member] | Customers [Member]
Fair value of derivative assets	100
Non-Hedging Derivatives [Member] | Interest Rate Swap Agreement [Member] | Counterparties [Member]
Fair value of derivative liability	$ 100

DERIVATIVES AND HEDGING ACTIV_5

DERIVATIVES AND HEDGING ACTIVITIES (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest Rate Swap [Member] | Derivatives Designated As Cash Flow Hedges [Member]
Amount of Gain (Loss) Recognized in OCI on Derivative	$ (142)	$ 168	$ (1,053)	$ 1,086

DERIVATIVES AND HEDGING ACTIV_6

DERIVATIVES AND HEDGING ACTIVITIES (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest Rate Swap [Member]
Amount of Gain (Loss) Reclassified from OCI into Expense (Effective Portion)	$ 374	$ 351	$ 1,056	$ 1,154

DERIVATIVES AND HEDGING ACTIV_7

DERIVATIVES AND HEDGING ACTIVITIES (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Derivatives notional amount	$ 38,992
Estimated amount to be reclassified during the next 12 month period	1,600
Termination value of derivatives in a net liability position	2,200	$ 1,300
Cash posted as collateral	300
Collateralized Mortgage Backed Securities [Member]
Fair value of mortgage backed securities collateralized	2,200
Designated as Hedging Instrument [Member]
Derivatives notional amount	35,000
Non-Hedging Derivatives [Member]
Derivatives notional amount	$ 4,000

FAIR VALUE OF ASSETS AND LIABLI

FAIR VALUE OF ASSETS AND LIABLITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Available for sale securities	$ 231,258
Marketable equity securities	6,726	$ 6,408
Interest rate swaps - Assets	100
Interest rate swaps - Liabilities	2,176	1,259
Fair Value Level 1 [Member]
Marketable equity securities	6,726	6,408
Fair Value Level 2 [Member]
Interest rate swaps - Assets	100
Interest rate swaps - Liabilities	2,176	1,259
Recurring [Member]
Marketable equity securities	6,726	6,408
Interest rate swaps - Assets	100
Total assets	238,084	260,156
Interest rate swaps - Liabilities	2,176	1,259
Recurring [Member] | Government-Sponsored Mortgage-Backed Securities [Member]
Available for sale securities	188,132	159,351
Recurring [Member] | US Government Guaranteed Mortgage-Backed Securities [Member]
Available for sale securities	12,350	19,338
Recurring [Member] | Corporate Bonds [Member]
Available for sale securities	7,829	48,168
Recurring [Member] | States and Municipal Bonds [Member]
Available for sale securities	2,821	2,944
Recurring [Member] | Government-Sponsored Enterprise Obligations [Member]
Available for sale securities	20,126	23,947
Recurring [Member] | Fair Value Level 1 [Member]
Marketable equity securities	6,726	6,408
Total assets	6,726	6,408
Recurring [Member] | Fair Value Level 2 [Member]
Interest rate swaps - Assets	100
Total assets	231,358	253,748
Interest rate swaps - Liabilities	2,176	1,259
Recurring [Member] | Fair Value Level 2 [Member] | Government-Sponsored Mortgage-Backed Securities [Member]
Available for sale securities	188,132	159,351
Recurring [Member] | Fair Value Level 2 [Member] | US Government Guaranteed Mortgage-Backed Securities [Member]
Available for sale securities	12,350	19,338
Recurring [Member] | Fair Value Level 2 [Member] | Corporate Bonds [Member]
Available for sale securities	7,829	48,168
Recurring [Member] | Fair Value Level 2 [Member] | States and Municipal Bonds [Member]
Available for sale securities	2,821	2,944
Recurring [Member] | Fair Value Level 2 [Member] | Government-Sponsored Enterprise Obligations [Member]
Available for sale securities	$ 20,126	$ 23,947

FAIR VALUE OF ASSETS AND LIAB_3

FAIR VALUE OF ASSETS AND LIABLITIES (Details 1) - Nonrecurring [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Total Gains (Losses)	$ (380)	$ (393)	$ (1,077)	$ (473)
Impaired Loans [Member]
Total Gains (Losses)	(380)	$ (393)	(1,077)	$ (473)
Fair Value Inputs Level 3 [Member]
Impaired Loans	2,117		2,117		$ 1,676
Total Assets	$ 2,117		$ 2,117		$ 1,676

FAIR VALUE OF ASSETS AND LIAB_4

FAIR VALUE OF ASSETS AND LIABLITIES (Details 2) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets:
Cash and cash equivalents	$ 45,399	$ 26,789
Securities available-for-sale	231,258	253,748
Marketable equity securities	6,726	6,408
Federal Home Loan Bank of Boston and other restricted stock	13,064	14,695
Loans - net	1,742,526	1,631,558
Accrued interest receivable	5,460	5,652
Mortgage servicing rights	357	456
Derivative assets	100
Liabilities:
Deposits	1,671,665	1,592,521
Short-term borrowings	35,015	59,247
Long-term debt	206,034	206,789
Accrued interest payable	507	530
Derivative liabilities	2,176	1,259
Fair Value Level 1 [Member]
Assets:
Cash and cash equivalents	45,399	26,789
Marketable equity securities	6,726	6,408
Fair Value Level 2 [Member]
Assets:
Securities available-for-sale	231,258	253,748
Mortgage servicing rights	357	456
Derivative assets	100
Liabilities:
Short-term borrowings	35,015	59,247
Long-term debt	206,034	206,789
Derivative liabilities	2,176	1,259
Fair Value Level 3 [Member]
Assets:
Federal Home Loan Bank of Boston and other restricted stock	13,064	14,695
Loans - net	1,742,526	1,631,558
Accrued interest receivable	5,460	5,652
Liabilities:
Deposits	1,671,665	1,592,521
Accrued interest payable	507	530
Carrying Value [Member]
Assets:
Cash and cash equivalents	45,399	26,789
Securities available-for-sale	231,258	253,748
Marketable equity securities	6,726	6,408
Federal Home Loan Bank of Boston and other restricted stock	13,064	14,695
Loans - net	1,738,310	1,684,804
Accrued interest receivable	5,460	5,652
Mortgage servicing rights	236	286
Derivative assets	100
Liabilities:
Deposits	1,669,515	1,595,993
Short-term borrowings	35,000	59,250
Long-term debt	205,681	208,018
Accrued interest payable	507	530
Derivative liabilities	$ 2,176	$ 1,259

LEASES (Details)

LEASES (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Amortization of ROU assets	$ 244	$ 729
Interest on lease liabilities	60	184
Operating lease cost	$ 304	$ 913

LEASES (Details 1)

LEASES (Details 1) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 878
ROU assets obtained in exchange for lease obligations:
Operating leases	$ 411

LEASES (Details 2)

LEASES (Details 2) $ in Thousands	Sep. 30, 2019USD ($)
Leases [Abstract]
Operating lease ROU assets	$ 6,851
Operating lease liabilities	$ 6,886

LEASES (Details 3)

LEASES (Details 3) $ in Thousands	Sep. 30, 2019USD ($)
Years Ending December 31,
2019	$ 294
2020	1,100
2021	1,021
2022	987
2023	736
Thereafter	4,295
Total lease payments	8,433
Less imputed interest	(1,547)
Total	$ 6,886

LEASES (Details Narrative)

LEASES (Details Narrative)	Sep. 30, 2019
Weighted average remaining lease term for operating leases	10 years 6 months
Weighted average discount rate	3.46%
Minimum [Member]
Operating lease, term of contract	1 year
Operating lease, renewal term	5 years
Maximum [Member]
Operating lease, term of contract	19 years
Operating lease, renewal term	15 years

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Details Narrative) - USD ($) $ in Thousands	Jan. 02, 2019	Sep. 30, 2019
Right-of-use assets		$ 6,851
Lease liabilities		$ 6,886
ASU 2016-02 [Member]
Right-of-use assets	$ 7,200
Lease liabilities	7,200
ASU 2017-08 [Member]
Cumulative-effect adjustment, net of tax	$ 7